20170606_BSC_Vietnam Daily Review_EN_Banks tide continued

Highlight
Banking stocks is the main factor leading the markets and it created an united bullish movement for Largecap group in today trading session. In this rebound session, Banking stocks contributed largely to the upside trend of the market except for SHB’s correction, other Banking stocks increased significantly along with high trading liquidity, in which were VCB(+3.9%), STB(+6.7%), BID(+3.7%), MBB(+1.6%), CTG(+2.1%). Furthermore, the rebound trend spread throughout other sectors during the session, which comprised of Steel, Construction Material, Securities and Technology. On the other hand, Real-estate sector maintained its disunited movement, Marine sector and Rubber sector were in the correction movement. Although, in term of trading value, no significant changes were found in comparison to the previous session. It reached VND 3612.61 billion at the end of today session; however, market liquidity is improving due to the fact that ROS trading only accounted for VND 384.51 billion because cash flow was distributed equally to all recovering market sectors. At the end of today session, VN-Index passed the short-term resistance level of 750 point and closed at the 751.31 level, increased by 7.832 points in comparison to that of Monday. HNX-Index had the same movement, passing the 95 short-term resistance level and closing at 95.74 level mainly thanks to ACB and NVB. 


Market outlook
The market had a significant breakthrough, conquering the short-term resistance level of 750 points thanks to Banking stocks along with the rebound trend from Largecap stock, and the participant of foreign cash flow. Moreover, the market cash flow is actually improving in comparison to recent dried session; many fundamental stocks rebounded, creating a positive trading sentiment during today session. In the upcoming session, Banking stocks may maintain their major role in bringing the market to a higher and more stable price region, market cash flow spread and that in turn, created rebounded opportunities for many market sectors and different market capitalization categories, the next short-term resistance is expected to be at the 760 price region.