20160930_BSC_Vietnam Daily Review_EN_Necessary correction

Highlight

VN-Index opened in the red and maintain the red color until the closing. Although MSN, ROS, BVH maintained the green color but GAS, VIC, VCB, CTG, HPG declined, dragging VN-Index to near its lowest level of the day. The highlight of the session continueed to lie on petroleum stocks with a series of strong losers such as GAS, PVS, PVD, PVT with transaction volume dropped sharply compared to the previous session. Ending the session, VN-Index lost 2.82 points down to 685.73 (-0.41%), the HNX-Index also fell by 0.08 points to 85.00 (-0.09%). Market liquidity was not changed much with about 157 million shares traded, the trading value dropped to 3225 billion.

Recommendation

VN-Index ended a streak of 10 consecutive gaining sessions with a slight correction mainly due to oil and gas group as we expected before. Although the market corrected, there is no signs of over selling. Investors can continue to accumulate more good fundamental stocks in case that VN-Index corrects to near 681 zone.

Investment story - Fisher man and investment banker