20170315_BSC_Vietnam Daily Review_EN_Slight correction

Highlights
At the end of today session, the market corrected slightly. In the morning session, VN-Index moved sideways because market’s cash flow was distributed into stocks that belong to the Construction - Real estate stock group such as FLC, DXG, and ROS. At the end of the morning session, VN-Index increased by 0.28 point, up to the 714.99 level. However, in the afternoon session, the market started its downtrend movement due to NVL, VIC and aviation industry stocks.  Among them, VJC accounted for the 0.6-decreased point of the market. Aside from it, most stocks in other industries such as Rubber industry, Metal industry, Gas and oil industry, and Banking industry, … are bearish in today session. The supportive stocks of the market are VNM, MSN, BVH and the Construction and Real estate group like DXG, LHG, PC1,… The main supporter is VNM, contributing 1.29 point to VN-Index. The pair HAG and HNG also rallied strongly at the end of the session. The cash flow continued to be distributed into Real estate – Construction industry. Market liquidity recovered back to the same level as that of last week, which is VND 3.157 thousand billion. Although VN-Index decreased by 1.57 point (0.22%) down to 713.14 point, HNX-index increased by 0.29 point (0.34%) up to 87.45 point and UPCOM-Index went up by 0.38 point (0.66%), to 58.02 point.

Market commentaries
The upward trend from yesterday trading session could not be maintained in today market, VN-Index continued to test resistance level 715 but did not break through; the index fell back and closed at 713.14 point. The pressure from investors trying to lock in profit in Airline stocks and the conservativeness of investors, waiting for FED’s action on interest rate led to VN-Index’s fluctuation around 714 and closing below reference level. Tomorrow trading session may experience fluctuation as the reaction of FED decision on interest rate. However, due to the anticipation of investors weeks before FED’s disclosure, there will probably be no sudden and major capital withdrawal from stock market. The correction will be experienced in one or two coming days and market will settle down after that. During this time, investors should not adjust their portfolio and should limit the use of margin until clearer signal is revealed.