20170629_BSC_Vietnam Daily Review_EN_Returned to the 770 point level

Highlights
At the market’s opening, the market immediately increased and traded above the previous closing price until the end of the morning session. The bullish momentum is maintained until the middle of the afternoon session; after which, the momentum grew weaker over time and returned to the point region near the previous closing point level until session end. The stocks that supported the market bullish momentum during today trading session were BID (+0.40 point), PLX (+0.35 point), MSN (+0.31 point), and MBB (+0.29 point). In contrast, stocks that limited the market bullish momentum were VNM (-0.29 point), NVL (-0.12 point), VIC (-0.09 point), and STB (-0.06 point). The market cash flow continued being spread into Real-estate sector, Construction sector, Steel sector, Brick sector, and Fertilizer sector. In the Banking sector, most Banking stocks such as VCB, BID, MBB, and ACB increased while STB and NVB were decreasing. In addition, in regard to penny stocks, OCG and TSC reached their respective ceiling prices while FLC and HQC were decreasing. The pair HAG and HNG also increased positively thanks to positive information of HAG’s Myanmar project. The market scale maintained a positive state with the bullish stocks dominating the market (151 bullish stocks/118 bearish stocks). Market liquidity increased slightly in comparison to the previous session, its matching value was VND 3,352.6 billion/session. At the session end, VN-Index increased by 2.71 points (+0.35%) and closed at the 771.75 point level; HNX-Index increased by 0.45 point (+0.45%) up to the 98.80 point level.


Market Outlook
Continuing the bullish momentum, the market returned to the 770 point level. This momentum was supported by Bluechips stocks when VN30-Index increased by 4.11 and broke through the short-term resistance level of 760 point. In addition, Banking stocks also contributed a major part in the bullish momentum of both stock indexes namely HOSE and HNX. The market cash flow continued distributing and rotated in sectors belonging to different market capitalization categories. Market fluctuation margin narrowed with the difference between the peak point and bottom point to be 4.04 points. Market liquidity and VN-Index increased slightly which indicated that the market cash flow was supported stably. BSC expected VN-Index to cumulatively fluctuate within the price region 770-775 point level in the upcoming sessions,