20170103_BSC_Vietnam Daily Review_EN_Exciting start of 2017

Highlight

Opening session in 2017 showed an excitement right from the start with market covered with green color. Banking and financial services are major factors bringing VN-Index index up 7.14 points (1.07%) to 672.01 points. HNX-Index even increased with greater amplitude, up 1.07 points (1.34%) to 81.19 points thanks to strong gains from ACB. UpCom transactions also rose slightly 0.06% with two newly listed shares VGT and HVN, which rose sharply. HVN attracted great interest of investors as only 700 shares traded and nearly 1 million ceiling overbought orders. Despite the strong increase, market liquidity of trading session was low with 107 million shares, worth 1887 billion.

Recommendation

Banking stocks (VCB, CTG) and steel (HPG, HSG) which were recommended by BSC in previous reports had blossom trading session. VN-Index surged beyond MA45 and MA100, showing the excitement of investors. VN-Index may continue to recover but it needs more support of liquidity recovery to maintain a sustainable rally. Investors can continue to hold stocks in banks and steel, prepare to take profit at the strong resistances.