20170516_BSC_Vietnam Daily Review_EN_Strong selling pressure at the session end

Highlights
The development of the market at the end of the session reversed the development the market since the beginning of the session, strong selling pressure occurred widely in all stocks belonging, creating more pressure on VN30, VNXALLSHARE-Index which made these index points went down below the previous closing price, held down the uptrend of VN-Index, and lost the open price level at the end of the session. The market scale transformed suddenly from positive to negative stocks with the bearish stock dominating the market, market liquidity increased significantly at the end of the session with a trading volume of VND 5758.96 billion. PLX, VIC, MSN and GAS took a major role in supporting the market; however, SAB, CTG, VCB, HPG, VNM affected negatively on the market index. Most sectors suffered from a correction, excluding only Marine sector. Gas and Oil sector maintained the general bullish movement, Real- estate start differentiating due to strong selling pressure from short-term profit cut activities, sector such as Finance-Banking, Steel, Plastic, continued correcting. At the end of the session, market indexed decreased by 4 points, down to the 725.03 level. HNX-Index fluctuated around the previous closing price level, reaching the 91.28 level, corresponding to an increase of 0.19% in comparison to the previous session.


Recommendation
Strong selling pressure at the end of the session shaken the general market and also raised the market liquidity, especially at the end of the session. About index points, VN-Index is moving on a sideway trend above the supportive level of 725 point in recent sessions, however, the general market is facing the short term correction trend, after the significant price increase of Smallcap and Midcap stocks which was supportive by large and stable market liquidity. However, the supportive level of 690 point for VN30, and 1070 point for VNXALLSHARE is enhancing the market trading sentiment. Strong selling pressure is certain to occur in the upcoming session and may increase the riskiness of stocks with market characteristic, and make VN30, VNXALLSHARE retest the supportive sentiment level.