20170117_BSC_Vietnam Daily Review_EN_Trend maintained_Sector Update Banking

Highlight

VN-Index gained well throughout the session thanks to banking group and SAB surged in today session. Due to information about the possibility of opening room for the bank group in 2017, the bank stocks rose sharply, CTG closed at ceiling price, MBB, ACB, STB, VCB, BID soared. Ending the session, VN-Index rose by 6.77 points (+ 1%), closing at its highest level during the day, the HNX-Index also rose by 0.89 points (+ 1.07%). Market liquidity also improved, mainly thanks to the transaction from banking stocks. Approximately 116 million shares were traded during the session, equivalent to trading value of 2075 billion

Recommendation

VN-Index regained lost points in the previous session and liquidity also significantly recovered thanks to banking groups. Thus, the rising trend seems to maintain a positive way. However, in the short term, the cash flow will continue to divert, withdraw from the speculative stocks and pushing into stocks supported by favorable news such as banking, fertilizers, rubber. Investors should withhold from speculative stocks and participate in stocks supported by favorable news.

Sector Update - Increasing the limits of foreign ownership in banks in 2017