20170808_BSC_Vietnam Daily Review_EN_ Rising trend continued

Highlight
The trading session of this week saw a strong rise of the market. VNINDEX continued its rally in the morning, peaking at 796.09 points - the highest level of this year, and then rapidly corrected to 793 points level and continued to fluctuate around this level during the afternoon session, closing at 792.98 points. The daily trading range was at 7.43 points. The main stocks that helped the market rising were PLX (+1.24 points), SAB (+0.68 points), GAS (+0.68 points), MWG (+0.27 points) and MBB (+ 0.22 points). In the opposite direction, the market corrected due to VIC (-0.13 points), NVL (-0.12 points), STB (-0.09 points), DHG (-0.07 points) and EIB (-0.04 points). Market cash flow returned to the rubber and fertilizer s but weakened in the construction sector. Market breadth was positive, with advancers outstripping decliners (180 advancers/ 119 decliners), of which 21 reached the ceiling price. The market liquidity increased compared to the last trading session of the previous week with a matching volume of VND 3,630 billion. At the end of today session, VN-Index gained 4.3 points, closed at 792.98 points; The HNX-Index also rose by 0.47 points to 102.4 points.


Market outlook
At the end of today session, VN-Index increased by 4.3 points and fluctuated around the short-term resistance level of 796 points. In the morning session, investors witnessed market index rising sharply indicating the market excitement, after that, the market corrected strongly and fluctuated around the 793 points indicating the conservative and consideration of market participants. Market liquidity increased in comparison to that of the previous week, reaching the VND 3,630 billion. Market is standing before the potential to conquer the short-term resistance level of 800 points in the upcoming sessions if the supportive stocks maintaining their rising momentum; however, the selling pressure is certain to move in collision with this momentum at the short-term peak price region.  BSC recommended investors to lower the stocks proportion when the market is approaching the short-term peak. Short-term selling pressure may create disturbances in the market cash that is spreading into some sectors.