20170228_BSC_Vietnam Daily Review_EN_Strong correction

Highlights
Today market experienced a significant trend correction. However, liquidation has been kept relatively unchanged compared to yesterday. Vn-Index increased slightly at the beginning of the morning trading session and then made a significant fall below reference price and did not recover at the end of the trading day and remained 6.65 point lower than reference price. Price of Bluechips stock fell sharply such as GAS, VIC, VCB, VNM and BID. The increase in price of EIB, SHB, DBC has limited the downwards movement of the market. In the first trading day, Vietjet Air stock (VJC) stock price increased to VND 108,000 with a net buy of 3 million units. Penny stock today such as FLC, HQC, FIT, HAG, SCR, attracted investors’ interest. Speculate rated stocks were traded at ceiling price today. Shares from industries like banking, steel, rubber and gas had a negative trading day. The upside trend was shown in stock price of sugar companies and mid and small cap companies in real estate. At the end of the trading day, Vn-Index closed at 710.79 point and there was an in significant rise in liquidity with total trading value of VND 3,078 billion. HNX Index closed at 86.83 point after suffering 0.03 point fall in value (-0.04%).

Market commentaries
Strong correction trend was experienced on today trading day. Liquidity remained almost the same as last trading day. Cash streams started to move from Bluechips stock to smaller market group. After several session trying to break through 720 point without success, investors who were under pressure to lock in short term profit have change their investment scheme to mid and small market group. BSC suggest that market will recover tomorrow and close at 715 point. Our recommendation for tomorrow action is to maintain the current portfolio in short term correction pattern and lock in profit when Vn-Index approaches 720 point.