20170404_BSC_Vietnam Daily Review_EN_Maintaining the accumulation

Highlights
Today, there was an accumulating session that showed the positive signs on HOSE given the commitment coming from almost BCs. From the beginning, VN Index had tried to break the 725 resistance and pass through this level, but taking a correction after that and accumulating to the end of the session. Market liquidity continued to slightly go up, with more than VND 3,800 billion in trading value, however market breadth has not showed positive signs yet in which number of bullish shares were similar to number of bearish ones. Major contributors to the increase of the market today was Banking sector, especially VCB, STB and BID, along with some Real Estate – Construction stocks (VIC, NVL,..), the Steel (HPG, HSG, NKG) and the Rubber. VJC and BVH also contributed to the green light in HSX. Lots of consensus transactions appeared today, focusing on TTF and VNM. VN Index closed at 724.14, going up by 0.24% whereas on HNX, the index also moved in a same way, increasing by 0.26%, reaching 91.16.

Recommendation
Moving in a similar manner as yesterday, VN Index has approached the 725 level. Unlike the Monday session, today’s market witnessed the green light covering from the morning to the afternoon and increase breadth was widen at the end. BSC stated that bullish trend could maintain and in the context of that there is no negative macroeconomic information as the recent March, HSX’s index could break the 725 resistance. Continuing researching and evaluating the business result in quarter I of fundamental companies is an essential thing. Some sectors could reach bright performance in quarter I were Consumer goods, Rubber,… Investors need to wait for the correction in the session to take a long position on stocks getting bright prospects and owning appreciated fundamental factors.