20170621_BSC_Vietnam Daily Review_EN_A correction session

Highlights
Right after opening, the market index immediately decreased and traded below the previous closing point level for the entire morning session in which it even reached the bottom level of 758.9 point. The bearish momentum occurred simultaneously in the banking sectors and largecap supportive stocks caused the market to go down significantly. ROS sudden increase made the market fluctuated below the previous closing point. In the afternoon session, rebound momentum continued until the session end and almost reached the previous closing point level. The main supportive stocks that limited the market bearish momentum, were individual largecap stocks including PLX (+0.59 point), SAB (0.41 point), MBB (0.29 point), và FPT (+0.25 point). In contrast, stocks that were the main factor causing the market downsize were Banking stocks such as VCB (-1.11 point), CTG (-0.78 point), BID (-0.28 point), ACB (-0.61 point), NVB (-0.28 point) and other largecaps stocks like MSN (-0.33 point), VIC (-0.26 point), GAS (-0.25 point). Market cash flow continued rotated in different sectors and mainly concentrated on Retail stocks like FPT and MWG and Pharmaceutical stocks such as DMC and IMP. The market scale moved to a negative state with the bearish stocks dominated the market (119 bullish stocks/159 bearish stocks). Market liquidity increased slightly in comparison to previous session, its matching value reached VND 3,741.3 billion/session. At the end of today session, VN-Index decreased by 0.58 point (-0.08%) and closed at 767.41 level; HNX-Index decreased by 1.12 point (-0.39 %) down to 99.80 point.



Market Outlook
After three consecutive bullish sessions since the beginning of the week, the market finally had a correction session. Although during the entire session, the market traded below the previous closing price level, at the end of today session, the market rebounded, almost reached the previous closing point level and differenced by only 0.58 point. Strong support forces of good fundamental stocks such as PLX, FPT and bottom catching activities of SAB had limited the bearish momentum of the market. With negative market scale, increased market liquidity and widen market fluctuation margin, BSC expected VN-Index to fluctuate around the 765 point level in the upcoming sessions.