20170816_BSC_Vietnam Daily Review_EN_Contrasting colors

Highlights
VN-Index today posed contrasting color in morning and afternoon session. The VN-Index repeatedly corrected in the morning session creating a bottom of 766.8 points, before increasing continuously in the afternoon session and closing at 773.57 points. Trading range was at 6.77 points, which was equivalent to the previous session. Key stocks contributing to the uptrend of index were: SAB (+1.42 points), GAS (+1.06 points), HPG (+0.42 points), VCB (+0.26 points), MSN (+0.21 points). By contrast, stocks that pulled the market down were VNM (-0.52 points), BID (-0.36 points), CTG (-0.2 points), MBB (-0.09 points) PLX (-0.08 points). Market cash flow today focused on stocks of steel, fertilizer and construction sector, but it was weaken in banking stocks and VN30 bracket. Market breadth continued to be negative with losers outnumbering gainers (140 losers/ 137 gainers). Market liquidity increased slightly after e decline period with the order matching value of VND 2,842 billion. At the end of today session, VN-Index rose by 2.51 points, closing at 773.57 points; HNX-Index also increased by 0.44 points to 101.74 points.


Market outlook
The market rose today thanks to some stocks in the VN30-Index group, typically SAB and GAS contributed 2.48 points to the market. This was indicated by the VN-Index gained while the market breadth was negative with 140 losers / 137 advancers, the VN-Index had 16 gainers / 14 losers and market liquidity was still low. BSC expected that tomorrow, the market would continue to test the support level of 770 points and fluctuate around 770-775 points. Investors took advantage of the market rebound to continue lowering the stocks proportion of their portfolio, preventing the reverse risk of the market from correction pressure originating from large capital stocks.