20160926_BSC_Vietnam Daily Review_EN_Approaching peak_Technical Views - VNR

Highlight

VN-Index opened in the green but quickly fell due to Bluechips declined such as GAS, HPG, MSN, HSG though VNM, VCB and FPT rose slightly. The market was not falling too much, fluctuated to keep threshold 670. In afternoon session, VN-Index traded more actively and closed in the green thanks to the Bluechips such as VNM, BVH, VCB, ROS increased. Ending the session, VN-Index rose by 2.95 points to 677.04 (+ 0.44%), HNX-Index lost 0.21 points to close at 83.11 (-0.21%). The volume and value of put-through transactions surged today to more than 1800 billion. The trading volume was about 90 million shares changed hands equivalent to more than 2150 billion. The notable put-throughs belong to ROS with 39.9 million units, equivalent to VNM 941 billion and VNM with 3 million units, equivalent to 394 billion VND. Foreigners started this week becoming net sellers on the HSX with net 17 billion and net buyers on the HNX with net 11 billion

Recommendation

VN-Index opened the week positively, close at the highest level during the day despite the liquidity slightly declined in the context that the stock markets in the region are correcting. VN-Index is approaching the previous peak at 680 and is likely to correct in this zone. However, this may be an opportunity for investors to open position on stocks with goof expected Q3 results and basic good fundamentals such as constructional, constructional materials, insurance or riskier investment could be oil and gas group before the meeting of OPEC to discuss possible output curb.

Technical Views - VNR - Vietnam National Reinsurance Corporation (HNX)