20170817_BSC_Vietnam Daily Review_EN_Market corrected on wide scale

Highlights
VN-Index had broken the supportive level of 770 point and closed at the point of 768 points. Market fluctuation range was 6.88 points. The main stocks that caused the market to fall including: BID (-0.96 point), GAS (-0.89 point), CTG (- 0.47 point), MBB (-0.42 point), and HPG (-0.33 point) In contrast, the stocks supporting the market were SAB (+0.98 point), VNM (+0.7 point), MSN (+0.13 point), ROS (+0.09 point), GMD (+0.04 point). The cash flow increased in the Real-estate sector, weakened in sugar cane sector, banking sector, the market element stocks, and most stocks on the market. The market scale during today session remained in a negative state with the downsize stocks dominating the market (219 downsize stocks/ 70 upside stocks). Today market liquidity increased by doubled the number of yesterday matching value which was VND 5,268 billion, in which VPB accounted for VND 2,255 billion. At the of today session, VN-Index decreased by 5.98 points and closed at the level of 767.59 points; HNX-Index increased by 1.25 points, down to 100.49 points.
 

Market outlook
VN-Index fluctuated in the state of fluctuating below the reference level for most of today session  mainly due to influence of individual stocks in VN30 bracket, then adjusted deeply at the end of afternoon session because of correction pressure in banking stocks while SAB was unable to hold the recovery of VN30- Index, which affected the closing price of VN30F1708. Market liquidity increased sharply thanks to strong demand of foreign investors in VPB. If the matching value of VPB is excluded, market liquidity today just rose slightly. BSC believes in upcoming session VN-Index would test the new support level of 765 points and fluctuate in the price range of 765 - 770 points. Investors should be cautious in making new transaction, and beware of market risk due to large-cap stocks’ correction pressure.