20170821_BSC_Vietnam Daily Review_EN_Market corrected

Highlights
Continuing the accumulative fluctuation trend of last week, VN-Index corrected slightly in today session.  At today morning session, although Index has passed the previous session’s closing points but it was not significant and maintained only for a short-time before moving down to 765.95 points level. The supportive market force at the end of morning session had helped the index to rebound and maintain the green color until today session end. However, strong selling pressure had caused a slight decrease of VN-Index and although increased at the session end, VN-Index closed with a red color at the level of 768.79 points. The stock causing the market to decrease were VPB (-0,61 point), HPG (-0,34 point), BVH (-0,26 point), NVL (-0,17 point) and VNM (-0,15 point). In contrast, the supportive stocks of the market were SAB (+0,92 point), PLX (+0,5 point), MSN (+0,16 point), GAS (+0,14 point) and EIB (+0,11 point). Market cash flow spread into Largecap Petroleum stocks and some stocks belonging to VN30 group while it was being differentiated in other main supportive sectors including Banking sector, Real-estate sector, Construction-sector. Market liquidity decreased slightly in comparison to the previous session with a total matching value of 2,790 billion. Market fluctuation margin narrowed to 3.76 points indicating market hesitated sentiment.  Market breadth turned to a negative state with the downside stocks dominating the market (168 downside stocks/ 117 upside stocks). At the end of today session, VN-Index decreased by 0.18 point and closed at 768.79 points, HNX-Index increased by 0.3 point, up to 101.13 points.


Market outlook
Today trading session wasn’t active since trading volume improved not too much compared to yesterday. Although there was a time when the index recovered, the recovery rate was too small and just occurred in a short period of time. The fluctuation range was small in the trading session, together with the lack of liquidity indicating investors are reluctant and cautious when the technical indicators didn’t support the uptrend of the VN-Index. The VN30-Index, the growth engine of VN-Index, recently decreased slightly with the volume lower than the average of the last 5 sessions and still fluctuated in the narrow channel. In the upcoming sessions, VN-Index could not penetrate the range of 765-770 points and will continue to fluctuate in this price range before clearly determining the next trend.