20170509_BSC_Vietnam Daily Review_EN_VN-30 rebounded strongly

Highlights
Although the market index decreased in today morning session, from VNM, ROS to the pair HAG and HNG due to the bottom selling pressure, however, VN30 stock group had created a strong rebound trend for the market index. VN30-Index officially ended its correction movement and closely approached the 690 level. The market cash flow came back to all market sectors, along with different market capitalization stocks group. The Real-estate stock group continued maintaining its rally movement, fast rebound stocks in Banking – Finance, Plastic, Fertilizer and some stocks in all sectors. The market scale is positive with a large number of bullish stocks dominated the market. Many stocks reached the ceiling price thanks to supportive market force originated from Smallcap and Midcap stocks of Real-estate sector, along with penny stocks. Although the market rallied thanks to the rebound of Largecap stocks and the positive movements of most market sectors, however, market liquidity went down today in comparison to the previous session, especially the last of the trading session; the trading value was VND 4.042 billion, negotiated trading value was VND 509.65 billion. VN-Index closed above the 720 level, at 722.11 level, increased by 3.25 points. HNX-Index also passed the short-term resistance level of 90 point and reached 90.37 level, corresponding to an increase of 1.39% in comparison to the previous trading session

Recommendation
The market had a positive trading session when the bullish movement originating from the main supportive stocks group along with stocks in different market sectors. Market liquidity decreased slightly at the end of the session; however, it remained at a high and stable rate. Market cash flow in short-term held down the price of many stocks that passed the previous peak price, and created a rebound trend of fundamental stocks that had short-term correction trend. Today bullish session was also thanks to the cumulative base around the 720 level of VN-Index after the recent rebound from the bottom. Market index fluctuated within a safe cumulative region, market liquidity is maintained stably and went back to the supportive stocks group, VN-Index has the opportunity to approach historical peak of 730 point in the upcoming sessions.