20170623_BSC_Vietnam Daily Review_EN_Approaching the 770 point level

Highlights
In the morning session, the market continued fluctuated below the previous closing price point during almost the entire morning session, in which the market index even reached the bottom level of 763.6 point. Strong short-term profit cut pressure of Large cap stocks, especially the Banking stocks created a significant and negative impact on the market. However, at the end of morning session, VN-Index had recovered and traded above the previous closing price level thanks to smart cash flow spread into Real-estate sector, In the afternoon session, the market increased significantly and  maintained its bullish momentum until today session end thanks so strong supportive Largecap stocks. The main stocks that supported VN-Index bullish momentum were PLX(+0.75 point), SAB (+0.41 point), VJC (+0.22 point), and NVL (+0.14 point). In contrast, stocks that limited the bullish momentum of the market were GAS (-1.11 point), MSN (-0.78 point), DHG (-0.28 point), MBB (-0.61 point). The market cash flow rotated in different sectors and mainly spread into Securities stocks such as HCM, BVS, MBS and Real-estate stocks including CTD, DIG, FCN, FLC, HQC. The pair HAG and HNG continued attracted large amount of cash flow and increased significantly during today session. Moreover, penny stocks like HQC, DLG, and OGC also traded dynamically and reached the ceiling price in today session. The market scale changed to a positive state with the bullish stocks dominated the market (162 bullish stocks/119 bearish stocks). Market liquidity was maintained at the same rate as the previous session, its matching value reached VND 3,839.7 billion/session. At the end of today session, VN-Index increased by 2.71 point (+0.35%) and closed at the 769.01 level; HNX-Index decreased by 0.33 point (-0.34 %) down to the 98.27 level.

Market Outlook
The decrease of VN-Index point in the morning session occurred mainly due to the effect of banking stocks correction movement. However, the market had rebounded and increased thanks to strong supportive forces from Real estate sector and other Large cap stocks. The positive market scale illustrated that the cash flow continued being distributed into stocks belonging to different market capitalization categories. The market fluctuation margin expanded and caused the VN-Index points to approach the 770 resistance level. In the upcoming session, the market cash flow may continue to improve thanks to positive trading sentiment of waiting for the businesses’ report season.