20170727_BSC_Vietnam Daily Review_EN_Slightly correcting session

Highlight

After opening, the market fluctuated around the reference level. From middle of morning session, the market started correcting until the end of afternoon session. Sum up today session, VN Index slightly decreased by 2.38 points, down to 771.5 points. The trading range of was very low when the difference between the peak and bottom of the market was 4.67 points. The major stocks which made the market plunge were PLX (-0.67 points), GAS (-0.43 points), VIC (-0.26 points), CTG (-0.18 points) and HPG (-0.17 points). In the opposite direction, key stocks which hindered the falling momentum were BID (+0.11 points), ROS (+0.08 points), FPT (+0.07 points), KDC (+0.07 points) and MBB (+0.06 points). Market cash flow went out of the Steel, Petroleum and Banking with strong declines in key stocks such as HPG, HSG, PVS, GAS, CTG and VCB but continued to support Real estate. Today, investors witnessed a correction in the VN30 when 22 stocks declined and only 7 stocks gained. On HOSE, the market scale was quite balanced with 152 decliners/142 advancers, with 48 stocks unchanged. The market liquidity increased slightly as the trading value reached VND 3,245.58 billion/session. On HNX, the HNX-Index slightly increased by 0.2 points to close at 99.63 points.

Market outlook

Today trading session observed a slight correction after recent upward trading sessions, liquidity improved but remained weak and most of the leading stocks were involved in the correction. BSC expects that liquidity will continue to recover at a slow speed due to cautiousness of the majority of investors. Short-term market cash flow will continue to move around the main leading stocks due to their high level of safety and good liquidity while market is waiting for the new trend. VN Index will continue on its way to resistance level of 780 in the upcoming sessions.