20170811_BSC_Vietnam Daily Review_EN_The light of VN30-Index

Highlights
VN-Index corrected to below the 769.14 points level right at the session opening, after that it rose gradually and fluctuated around the previous closing price level of  772.08 point. Market fluctuation margin of today trading session is 5.17 points, lower than the previous session. The main stocks that cause the market to fall were GAS (-1.15 points), VCB (-0.32 point), PLX (-0.29 point), NVL (-0.28 point), SAB (-0.23 point).  In contrast, the supportive stocks of the market included CTG (+0.62 point), HPG (+0.39 point), VIC (+0.1 point), ROS (+0.09 point), MSN (+0.08 point). Market cash flow was divested from Petroleum sector, Real-estate sector, Banking sector and invested into Steel sector, Technology Sector, Securities sector. Market breadth was maintained at a negative state with the downside stocks dominating the market (172 downside stocks/ 103 upside stocks). Market liquidity decreased slightly in comparison to the previous session with a matching value of VND 2,868 billion, indicating lower selling pressure. At the end of today session, VN-Index decreased by 1.35 points and closed at 772.08 points, HNX-Index also decreased by 0.11 point, down to 100.86 points level.

Market outlook
In today session, despite correction trend of the market, VN-Index was maintained above the short-term support level of 770 points thanks to higher demand of foreign investors and lower selling pressure in the market. Investors seem to be cautious about the market, and tend to adjust their portfolio with higher proportion of VN30 stocks. BSC believes in upcoming sessions, VN-Index would continue to fluctuate around the supportive level of 770 points, and investors should take advantage of correction period to increase the proportion of fundamental stocks at an attractive discounted price range.