20170809_BSC_Vietnam Daily Review_EN_Flaming market

Highlights
Today the red flame covered the entire market, right at the morning session; VN-Index corrected sharply to below the 790 points supportive level and continued to decrease even further, closing at the point level of 773.66 points. Market fluctuation margin during today trading session was 15.49 points. The top 10 stocks causing 9.52 points downward of the market were BID (-1.73 points), CTG (-1.1 points), VNM (-1.04 points), VCB (-0.77 points), GAS (-0.75 points), PLX (-0.7 point), VIC (-0.45 point), MSN (-0.28 point) and HPG (-0.24 point). In contrast, the top 10 upside stocks slightly contributed to the market index, the top two are ROS and TLG respectively accounting for 0.09 point and 0.06 point. Market cash flow divested from most market sectors including Banking, Petroleum, and Real estate which also were the most affected sectors. Market scale was maintained at a negative state with the upside stocks dominating the market (213 downsize stocks/97 upside stocks). Market liquidity increased in comparison to yesterday session with a matching volume of VND 4,761 billion.  At the end of today session, VN-Index decreased by 17.91 points and closed at the 773.66 points level; HNX-Index decreased by 1.22 points, down to the 101.07 points.
 

Market outlook
In today trading session, VN-Index has broken the supportive level of 790 points due to selling pressure in most sectors, especially in banking sector because of rumor effect surrounding the capture of BIDV’s ex-executive. BSC believes that in tomorrow session, investors would observe the market more carefully, the correction is occurring in a large scale, especially to most large cap stocks and leading sector  stocks. The market index is certain to continue testing the short-term resistance level of 770 or even lower price region.