20170119_BSC_Vietnam Daily Review_EN_Quiet trading session_TA – HPG

Highlight

VN-Index traded in a narrow range throughout the session with slow trading. Investors traded mainly cautiously and did not push the transaction as long holiday is coming. Banking stocks have rally efforts in the session, however, without the support of cash flow, the group could not break out and ended the session mixed. CTG, STB kept the green color while ACB, VCB declined. Ending the session, VN-Index fell 0.97 points to 682.31, the HNX-Index also lost 0.42 points to 82.88. The market liquidity continued to remain low with only 89 million shares traded on the two exchanges, corresponding to trading value of 1766 billion

Recommendation

VN-Index dropped slightly with liquidity continued to decline showed that money is withdrawn from the market before the long holiday. The market is likely to continue to fluctuate in a narrow range in the short term when the cash flow is not strong enough to put the VN-Index to a new high. Investors can accumulate more fundamental stocks supported by good news and look forward to the business results in 2016 in the correction of VN-Index.

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