20170718_BSC_Vietnam Daily Review_EN_Slight correction session

Highlight
The market corrected slightly in today session, sometimes down to below the short-term support of 765 points but has promptly recovered and traded above this level. Stocks that forced market index to decrease were GAS (-0.87 points), HPG (-0.39 points), CTG (-0.24 points) and BVH (-0.18 points). In the opposite direction, SAB (+1.42 points) hindered the falling momentum of the market. In the market, the downward momentum continues across all sectors of different capitalization groups. The two most positive sectors of this session were the Banking and Pharmaceuticals. In term of penny stocks and small-cap stocks, the strong differentiation took place as OCG, CCL hit the floor price and HAI, HAR and NVT hit the ceiling price. Market scale remained negative as the number of losers were double that of gainers (88 advancers/185 decliners). The market liquidity slightly decreased compared to the previous session with the trading value of VND 3,511.7 billion/session. Sum up today session, VN-Index decreased by 1.42 points (-0.18%) to close at 767.49 points; HNX-Index lost 0.04 points (-0.04%), down to 98.60 points.

Market outlook
The market correction continued today. Amplitude fluctuation of the market narrowed slightly to 7.69 points compared to the last session. Market cash flow mainly funded small caps and SAB which gained largely due to the expectation of the government divestment plan. Except for UPCOM-Index, other indices such as VN30-Index, HNX30-Index and VNXALLSHARE-Index are all in red color. Despite the support of foreigners' cash flow, on both exchanges, the correction continued actively. BSC expects the market to continue moving in the level of 765-770 points and may return to level of 760 if the downtrend momentum prolonged.