20170104_BSC_Vietnam Daily Review_EN_Quiet trading

Highlight

VN-Index maintained the green color throughout the session but the excitement of the previous trading day was no longer maintained, and the green is no longer spread to many stocks. In early morning trading, financial groups, banking and steel continued actively trade but low liquidity made the selling pressure increased. The market closed higher than last session thanks mainly to large-cap stocks such as GAS, VIC, CTG, MSN, BVH while market breadth was not really positive. Ending the session, VN-Index rose by 2.69 points (+ 0.4%) and HNX-Index gained points 0.13 points (+ 0:16%). Liquidity in continuous trading session continued to be at a low level with 117 million shares traded equal to transaction value of nearly 2074 billion

Recommendation

Although VN-Index gained, it has shown some signs of weakness as market breadth was negative, with low liquidity and leading stocks weakened in the session. In addition, the VN-Index is also having difficulty at resistances 675. Likely, VN-Index will correct in subsequent sessions. Investors can continue to take profits and observe the reaction of the market at the resistance level and cash flow movement.