20170608_BSC_Vietnam Daily Review_EN_Fluctuation above the 750 level

Highlight
Right at the beginning of the session, the market went down below the 750 level due to strong selling pressure originating form investors’ short-term profit acquisition activities after two recent bullish sessions. However, thanks to bottom-catching of some investors, the market had rebounded and fluctuated under the previous closing prince until the end of the afternoon session. Today, Banking stocks reversed from its previous role, excluding for STB and NTB, all other banking stocks experienced correction periods. In which, BID (-0.35 point), ACB (-0.38 point), CTG (-0.44 point), VCB (-0.49 point) took a major part in the market down trend.  In addition, ROS also decreased to the ceiling price period which caused 1.16 points loss for VN-Index. On the other hand, stock that limited the bearish momentum of the market were DHG (+0.37 point), VIC (+0.27 point) and STB (+0.22 point). More notably, put through trading value accounted for 40% of today trading value which mainly composed of VIC and EIB put through values. The market cash flow continued to rotated into different sectors and mainly spread in to Steel sector, Gas and oil sector, and Hydroelectricity sector. Other sectors such as Rubber, Securities, Real estate, Beverage and drink all covered in red color. The market scale returned to a negative state with the bearish stocks dominated the market (123 bullish stock/ 149 bearish stocks). Market liquidity decreased in comparison to the previous trading session. At the end of today trading session, VN-Index decreased by 3.33 points (-0.44%) and closed at 750.13 level; HNX-Index decreased by 0.21 point( -0.22%), down to the 97.25 level.



Market outlook
After two consecutive rebound sessions, the market had correction session today. During the trading period, the market went down below the 750 level but immediately recovered and fluctuated above this level for the entire session. Market liquidity decreased slightly, negative market scale along with larger market margin altogether illustrated that the market is in the accumulative period in the 750-755 point region. BSC maintained its opinion that the market would continue fluctuated within this price region in the upcoming sessions.