20170804_BSC_Vietnam Daily Review_EN_ Weekend conservative session

Highlight
The last trading session of this week saw fluctuations of index around the reference level. In the morning session, VN-Index broke the resistance level of 790 points, but afterward quickly corrected throughout the session. The market index repeatedly tested the support level of 786 points, then gradually rebounding above the reference level at the end of the trading session thanks to the MWG and SAB and ending at slightly 0.02% higher than the reference level. Stocks that helped the market gained were MWG (+0.67 points), STB (+0.24 points), PLX (+0.23 points), SAB (+0.17 points) and VIC (+ 0.13 points). Conversely, stocks that held the market up were BID (-0.54 points), GAS (-0.49 points), VCB (-0.29 points), CTG (-0.24 points) and HPG (-0.14 points). Cash flow into banking stocks was weakened. Penny stocks were still active with some gainers such as HAI, TNI, VOS, HAR ... Market breadth remained positive with gainers outnumbering losers (147 gainers/121 losers). Market liquidity was lower than yesterday session with the matching value of VND 3,450 billion. At the end of today session, VN-Index gained 0.19 points, closing at 788.68 points and HNX-Index also rose 0.5 points to 101.94.
Foreigners were net buyers on the HOSE with net value of VND 82.54 billion, including NLG (VND 34.97 billion), VCI (VND 22.16 billion) and VNM (VND 16.93 billion). They net sold VND 0.93 billion on HNX, mostly in PVS (VND 13.2 billion) and VND (VND 3.23 billion) and VIX (VND 1.39 billion).
 

Market outlook
After the last trading session of the first week in August, VN-Index increased 13.73 points, equivalent to 1.77% compared to last week trading session. The market today didn’t trade aggressive but VN-Index maintained at the level of 788 to 790. During the trading session, there was a lot of time the market index reversed from up to down or vice versa, showing the caution and hesitation of the market money flows. The market liquidity remained modest with average transaction value of VND 3.760 billion per session. We maintained our outlook which is the market will trade between the level of 785 to 788 points next week and continue to test the resistance level of 790 points.