20170720_BSC_Vietnam Daily Review_EN_Correction session

Highlight
The trading session today was a similar correction to the recent 760 support testing sessions as VN-Index fell sharply to 763.5 points at the end of morning session but recovered in afternoon session. Correction was not only in major supportive stocks, but also from small-cap stocks and penny stocks. At the end of this session, the top 10 leaders contributed 2.08 points while the top 10 lagers only decreased the market index by 1.83 points, indicating a very large-area correction. The stocks which made the market fell were VNM (-0.48 points), GAS (-0.44 points), VCB (-0.22 points), PLX (-0.23 points) and MWG (-0.16 points). In the opposite direction, the stocks which led the market rise up were BID (+0.64 points), SAB (+0.41 points), VIC (+0.35 points) and REE (+0.11 points). Market scale was negative with overwhelmed numbers of losers (115 advancers/ 186 decliners). Market liquidity weakened today with trading value of VND 3,051 billion in HSX and VND 521 billion in HNX. Sum up today session, VN-Index lost 2.89 points and closed at 768.41 points; HNX-Index decreased by 0.15 points, down to 98.65 points.


Market outlook
The rebound of Banking stocks had limited the correction momentum of the market, differentiation still occurred in Largecap stocks, market liquidity did not have any significant improvement due to investors’ conservative approach before the market trend in the upcoming sessions, a part of market cash flow returned to the leading and supportive stocks, limiting the downward momentum of market index in the range 760-770 points.