20170403_BSC_Vietnam Daily Review_EN_Fragmentation in the banking sector_Company update_FPT - FPT Corporation

Highlights
The market today had a minimal fluctuation movement, with strong fragmentation after the index could not break the 725 resistance level as the market just began. The market leader throughout the day is STB, with significant price gain during the day, while many other stocks in the banking sector with large market capital had no changes or even reduced in prices, such as VCB, BID, CTG, MBB, pressing the market downward. Contributing to support the market are several market drivers such as HPG, VNM, MSN, and ROS, as well as the construction – real estate, steel, and marine products. However, the market could not maintain its positive movement due to the disagreement of most of the Blue-chips in the VN-30, VJC, as well as the pharmaceutical, rubber, plastics, information & technology, oil & gas, and insurance. Market liquidity improved today to VND 3,892.15 billion. Especially, there was a remarkable negotiated trades in SBT. VN-Index closed the day with a minor increase of 0.07 (0.01%) to 722.38; HNX-Index increased by 0.10 (0.11%) to 90.92; and UPCOM-Index increased by 0.10 (0.18%) to 57.61.

Recommendation
The first trading session in April witnessed the recent trend from last week , meaning that VN Index had not succeeded in breaking resistance level at 725. BSC stated that in some next sessions, the market could fluctuate in a similar manner given the support coming from BCs like VNM and Steel, Real Estate and Construction field . It could not take long time for the index to subdue the 725 resistance because performance result in Quarter I will be published and the business plan will be passed in AGMs of fundamental firms. Investors could focus on Construction Material group and should wait for the correction within the session to join in long position. Besides, investors have to follow and evaluate information coming from Quarter I financial statements of companies receiving the positive impact of their sector.

Company Update
FPT - FPT Corporation (HOSE)