20170712_BSC_Vietnam Daily Review_EN_Approaching the 775 points level

Highlights
From the beginning of the session, the market rose sharply before came back to 770 However, due to strong demand in the large-cap stocks such as GAS, VNM and PLX, Real estate and Securities, the market began climbing and maintain this increasing momentum until the end of the afternoon session, forcing the VN-Index reached 775 points but the supports could not keep this level until the end of the session. Stocks which led the market to rise in this session are GAS (+1.57 points), VNM (+1.16 points), VIC (+0.31 points), and BVH (+0.16 points). In reverse, stocks which hindered the rising the market are BID (-0.44 points), VCB (-0.35 points), CTG (-0.12 points) and MSN (-0.07 points). Market cash flow steady rotated between sectors and mainly spread to Securities and Real Estate. In contrast, banking stocks sharply corrected as BID, VCB, CTG and NVB all declined. In term of penny stocks and small-cap stocks, speculative stocks such as HAR, HID, KDM and QBS continued increasing to their ceiling. Market scale maintained in positive status when number of gainers overwhelmed the market (173 gainers/103 losers). Market liquidity continues to decline, with trading values of VND 3,177.2 billion/session. At the end of today trading session, VN-Index rose by 4.81 points (+0.63%) and closed at 774.17 points; HNX-Index also increased by 0.14 points (+ 12:14%), to 100.56 pooints

Market outlook 
Following the upward momentum from the previous session, the market continued rising and reached 775 points. Market liquidity weakened but the market index still gained strongly due to the rise of large capital stocks. Market breadth strongly moved into positive status indicating that market money flow was spreading across a wide range industry sectors and capitalization stocks. Market fluctuations continued to narrow with the difference between the peak and the bottom point to be 5.72 points. With the support of liquidity, BSC expects the market index will continue to move actively depending on some individual main stocks in the range of 770-780 in the upcoming sessions, liquidity may not improve and investors need to be careful about reversed risk of the common market