20161220_BSC_Vietnam Daily Review_EN_Declining in large extend_TA - HPG

Highlight
VN-Index plummeted mainly due to SAB and VNM negative transaction, SAB even closed at the floor price. The negative effects from the SAB and VNM quickly spread throughout the market, made increasingly negative market breadth and market decline sharply in the session. Ending the session, VN-Index closed at its lowest level of the day, losing 11.67 points to close at 662.66 (-1.73%), the HNX-Index (-0.22%) fell less because it was unaffected by the the large stocks on HSX. Stable market liquidity of trading value (about 1886 billion) although the number of shares traded fell to 92 million shares on the HSX.
Beer stocks kept falling, BHN and SAB leading the team in dropping points level, down 15% and 7%, respectively. The stocks of financial services such as securities, banking and insurance are affected by general market and a slight adjustment. VNM shares remained under downward pressure due to strong foreign net selling. 20.12 session also marked the first session of QNS on UpCom and immediately increased by 40%

Recommendation
VN-Index plunged with negative width negatively affected by spillover from the stocks such as SAB and VNM. However, VN-Index has not lost its possibility to rally in the short term and the technical indicators remain positive. Investors can continue to accumulate steel stocks, in addition, the shares of the financial services industry when they correct to attractive price can also be options to buy.

Technical views - HPG - Hoa Phat Group JSC (HSX)