20170630_BSC_Vietnam Daily Review_EN_Broke through the resistance 775 point level

Highlights
In the morning session, the market increased slightly and traded above the previous closing price point until the session end. In the afternoon session, the market increased significantly and its bullish momentum was maintained until today session end, reaching the peak level of 776.50 point. The stocks that supported the market during today session were VNM (+1.36 points), GAS (+0.64 point), HPG (+0.44 point), and SAB (+0.38 point). In contrast, other stocks that limited the market’s bullish momentum were PLX (-0.19 point), STB (-0.17 point), MSN (-0.15 point), and GMD (-0.07 point). The market cash flow was mainly invested into Construction, Real estate sector and Largecap stocks. In the Banking sector, a differentiation occurred again when VCB, BID, and CTG increased while ACB, STB, NVB were decreasing. In addition, in regards to penny and small stocks, OCG reached it ceiling price in today session; the pair HAG and HNG surged in the morning session thanks to positive information at HAG’s General Shareholders Meeting. However, in the afternoon session, this pair momentum was reversed and went down below their respective previous closing price. The market scale continued to be in a positive state; however, it started inclining toward a neutral state when the bullish almost equaled the bearish stocks (132 bullish stocks/127 bearish stocks). Market liquidity increased slightly in comparison to the previous session, its matching value was VND 3,437.1 billion/session. At the session end, VN-Index increased by 4.72 points (+0.61%) and closed at the 776.47 point level; HNX-Index increased by 0.34 point (+0. 35%) up to  the 99.14  point level.
Foreign investors had net purchases on three market floors HOSE, HNX and UPCOM, corresponding to respective trading values of VND 390.80 billion, VND 5.48 billion, and VND 7.61 billion. On HOSE, they bought HPG (VND 121.4 billion), VNM (VND 92.3 billion) and sold AAA (VND 16.3 billion), VJC (VND 7.9 billion).

Market Outlook
In the final session of June, the market broke through the 755 point level. However, the fundamental factor behind this breakthrough is because today is the time when funds finalized their NAV causing the surge in Largecap stocks prices. Market liquidity is maintained at a stable rate. The market almost returned to a neutral state, the fact that foreigners had a high net purchase number on HOSE index (mainly invested in  HPG and VNM), along with the phenomenon that VN30-Index increased by 4.2 points, altogether indicated that the market cash flow was being invested in Largecaps stocks. Market fluctuation margin narrowed with the difference between the peak point and bottom point to be 4.75 points. BSC expected the market index to approach the new short-term resistance of 780 point only in the condition that its bullish momentum was supported by the market liquidity.