20170810_BSC_Vietnam Daily Review_EN_ Selling pressure fell

Highlights
At the beginning of the morning session, VN-Index plundged to 769.58 points before rising  to 776.77 points shortly after. For the rest of the session, VN-Index posted two other correction periods, down to 770 points before closing at 773.43 points. Today’s trading range was 7.19 points, lower than that of yesterday. Key stocks that continued to push the market down were ROS (-0.73 points), CTG (-0.33 points), GAS (-0.28 points), VCB (-0.26 points), NVL (-0.25 points). By contrast, stocks supporting the market were SAB (+1.67 points), VNM (+0.8 points), MSN (+0.21 points), BVH (+0.1 points) and MWG (+0,1 points). Market cash flow continued to be weak in the banking, real estate and construction sectors, but it recovered in some stocks in steel, plastic, rubber and fertilizer ones. Market breadth was still negative with losers outnumbered gainers (155 losers/127 gainers). Market liquidity fell sharply compared to previous session with an order matching volume of VND 2,991 billion, indicating lower selling pressure. By the end of today session, VN-Index dropped 0.23 points and closed at 773.43 points, HNX-Index also decreased 0.1 points to 100.97 points.

Market outlook
In today session, although the market decreased slightly in comparison to the previous session but it had rebound signs when the market index held the short-term supportive level of 770 points and rebounded to the previous closing point level at the end of the afternoon session, these   signs also were illustrated in the morning session. BSC believed that in tomorrow session, the market would fluctuate and may continue testing the 770 point supportive level, utilizing the correction movement in the session, investors are certain to raise the fundamental stocks proportion at an attractive discounted price level.