20170619_BSC_Vietnam Daily Review_EN_Broke through the 765 historical level

Highlights
In the morning session, the market increased significantly right at the opening, fluctuated above the previous closing price level and weakens until the end of the morning session. In today afternoon session, the market trade positively; VN-Index increased sharply and maintained its bullish momentum until the end of today session. The main contributors of the sudden in point level were Largecap stocks such as PLX (+0.56 point), VNM (+0.54 point), MSN (+0.51 point), GAS (+0.45 point). In contrast, ROS (-0.9 point) is the main factor that limited the bullish momentum of the market. The market cash flow rotated in different sectors and concentrated on Banking sector, Real-estate sector, Construction sector and Gas and Oil sector. Especially, banking stocks contributed a significant part to the momentum of the market thanks to CTD (+0.38 point), BID(+0.29 point), SHB (+0.45 point), NVB (+0.38 point), ACB (+0.25 point).In addition, marine sector also increased significantly due to speculative stocks group including KSH, KSK, KSA, AMD. On the other hand, pharmaceutical sector decreased sharply when DHG, DMC, TRA covered in red color. The market scale maintained a positive state with the bullish stocks dominated the market (159 bullish stocks/119 bearish stocks). Market liquidity decreased in comparison to the previous session with a matching value of VND 3,846.2 billion/session. At the end of today session, VN-Index increased by 5.59 point (+0.73%) %) and closed at 766.83 level; HNX-Index increased by 1.10 point (+1.12 %) up to 99. 41 point.


Market Outlook
After consecutive accumulative trading see around the 760 point level since last week, VN-Index increased by more than 5 points and broke through the 765 point. This breakthrough is the successful result of cash flow spread into the bank sectors and other Leading BCs stocks such as GAS, SAB, VNM, MSN. The main motive of investment opportunities for this large cap stocks is due to the fact that on this Wednesday, MSCI is going to publish the Frontier Market Index and Emerging Market Index. If Vietnam is included in the Emerging Market or increased its rank in the Frontier Market Index then ETF funds and other international financial institutions may increase its Vietnamese stocks proportion of its portfolio. These funds and institution had an investment policy that mainly invested into leading BCs stocks. Banking sector continued to be the main attraction of the market this year when this group, though suffering from some correction period, continued rising equally. In addition, the market also returned to the oil sectors for short-term due to positive oil price information. Expanded market fluctuation margin, positive market scale and weaken market liquidity indicated that market fluctuated around the 765 point level in the upcoming session.