20170529_BSC_Vietnam Daily Review_EN_Cooled Banking Stock

Highlights

In the morning session, VN-Index continued to rise 0.48% and moved close to the short-term peak 747 many times, however, the index stopped at 746.95 points in the end of the session. The Blue-chips stocks such as FPT, HAG, HPG, HSG, MSN, SAB, BHN, or bank shares such as VCB, CTG, BID, ACB... continued to increase and provided momentum to the market. At the end of the afternoon session, profit-taking pressure led the index to narrow its gain and the VN-Index closed at 746.25 points, up 0.35%. The support groups, which contributed to the uptrend of the market, were PLX (+1.08 point), CTG (+1.01), GAS (+0.96). On the other hand, the main contributors to the downtrend were BID (-0.72), VCB (-0.45). . Cash flow today continues to flow into real estate shares such as SCR, UDC or DIG. The pharmaceutical group remained green on the market but profit-taking pressure rose in this group and today DVN was the only stock reached the ceiling level. Although banking stocks were still the main driver of the market momentum in the morning, there was a clear division in the banking industry. VCB, SHB, MBB, BID, and NVB declined in the afternoon session, only CTG, STB, EIB maintained the upward momentum. Market breadth was positive with gainer overwhelmed losers (142 increased / 117 decreased). Market liquidity increased sharply with the trading value of VND5,414 billion. Market volatility narrowed to 2.6 points. At the end of today trading session, VN-Index increased 2.48 points (+ 0.38%) to 746.25 points; The HNX-Index gained 0.12 points (+ 0.13%) to 93.81 points.
 

Recommendations

Today's market continued to accumulate and move sideways. The sharp increase in liquidity coupled with the market breadth turned positive and narrowed volatility suggests a cautious psychology and early profit taking pressure from investors. Market cash flow today continues to rotate among sectors and continue to flow into the real estate industry. These factors show that cash flow in the market is still in accumulation to break the psychological resistance at 750 points.