20161206_BSC_Vietnam Daily Review_EN_Extended loss momentum

Highlight

VN-Index suffered negative movements in both sessions with the red covered on most of the key stocks on the exchange. In late trading, some stocks recovered slightly such as GAS, STB, MSN, BVH VN-Index, helping reduce the fall. Ending the session, VN-Index lost 8.72 points down to 651.49 points (-1.32%), the HNX-Index also fell to 79.34 (-1.41%). Liquidity of trading session increased compared to the previous session with 166 million shares changing hands respectively trading value of 2621 billion. As expected, SAB attracted attention from the opening with million orders at ceiling price. Ending the session, SAB went ceiling to $ 132,000 equivalent to market capitalization of more than 84 600 billion (ranked 5th in the stock market). However, SAB matched only 3,000 shares for the remaining of the session

Recommendation

Downside risk in the short term remains at a high level when a series of large stocks have dropped points, at the same time, VN-Index also tends to extend decline degree after each session. In this context, investors should maintain high cash rate, observing the reaction of the VN-Index at the supports. Currently, the next support level of the VN-Index is located at 650 and 641.