20161017_BSC_Vietnam Daily Review_EN_ Sharp correction in early week

Highlight

The market was positive during the first hour of trading this morning; however deep the correction occurs during the session lasted, and was strengthened by the end of today's trading session. The majority of shares in the market has corrected, and large-cap stocks have the effect of reducing the market's nearly 6 points; including BVH, VCB, GAS, VNM, MSN, MWG, these stocks have a big impact on the market overall scores. Most market sectors fell during the day, in fact, only 6/20 positive performing sectors, the positive is maintained in the Seafood sector, the Minerals sector and Pharmaceuticals sector.  In reverse, the Bank sector, shares of the Steel sector, Energy sector and Building Materials sector were falling today. As of the time the market closed, the VN-Index came quite close to the short-term support level of 680 points, gaining 680.95 points, down 6.05 points, down 0.88% over previous week's closing.

Market commentaries

The negative in the first trading session of the week cannot help the market to conquer the resistance 690 points today, while most market sectors, the market index has dropped respectively. The market is entering riskier areas volatility and supply pressures for large-cap stocks are also affecting the overall market trend. In the next session, but the market may have to test the support level of 680 points or lower support below 675 points area. Investors should limit the participation of small-cap stocks affected by the cash flow in the short term market, cautious trading activity for the general market risk if the market index lost 680 points support level.