20170724_BSC_Vietnam Daily Review_EN_Conservative market_Company update_Binh Minh Plastic JSC

Highlight

Right at the opening, strong selling pressure made the Index plunge to the bottom of 753.8 points. Short time before the end of morning session, market started to rebound and maintain this momentum until the closing. The trading range was quite large as the gap was 7.8 points between the peak and the bottom. The major lagers were PLX (-0.93 points), BHN (-0.37 points), GMD (-0.25 points) and GAS (-0.25 points). In the opposite direction, the major leaders were Bluechips such as VCB (+0.36 points), MBB (+0.23 points), BID (+0.17 points), VNM (+0.15 points) and HPG (+0.1 points). Market cash flow went out of small-cap stocks and penny stocks along with the Petroleum stocks, especially PLX and now GAS. Market scale remained negative with overwhelmed number of losers (116 advancers/188 decliners). Market liquidity was the weakest in the last 3 months as the trading value was VND 2,641 billion on HOSE and VND 518 billion on HNX. Sum up today session, VN-Index was at 759.7 points, down by 2.1 points. The HNX was also in a similar situation when the HN Index lost 1.03 points, down to 96.93.

Market outlook

Petroleum stocks continued their sharp correction movement, especially PLX and GAS, along with strong selling momentum at all penny and Smallcap stocks. These factors caused the market to go down during today session. A part of market cash flow was invested in Banking sectors and main supportive stocks, the remaining part was held under the form of cash. In accordance with BSC’s outlook, investors are certain to maintain their conservative strategy with a large amount of cash gaining from previous correction sessions so that they can prepare for a new trend. In the upcoming session, the market is likely to rebound above the resistance level of 760 points thanks to supportive cash flow coming from leading stocks along with a synergy rebound of Largecap stocks.

Company update

BMP – Binh Minh Plastic JSC.