20170106_BSC_Vietnam Daily Review_EN_Banks surged_Company Updates – HSG

Highlight

VN-Index traded positive in early session when both price and liquidity were improved. There was time that VN-Index even surged more than 7 points thanks to strong support of the banking group and SAB. Other financial stocks such as stocks, insurance also gained well. Unfortunately, VN-Index could not close at the highest price of the day due to strong selling pressure at closing. VN-Index closed at 679.8 (+ 0.6%), the HNX also increased to 82.09 (+ 0.9%). Market liquidity is significantly improved with over 138 million shares were traded on both exchanges equivalent to transaction value close to 2596 billion.

Recommendation

Although gaining well in session today, there are some negative points such as market breadth was negative, strong selling pressure at the closing and the VN Index faced resistance level at 682. Most likely, VN-index will be corrected in the next session. In the case of VN-Index in the small amplitude correction and liquidity, investors can open a position with good fundamental stocks.

Company Updates - HSG - Hoa Sen Group (HSX)