20170825_BSC_Vietnam Daily Review_EN_Recovered market liquidity

Highlight
Today's session range fluctuated around the previous closing point level until middle of the afternoon session. Since the middle of the afternoon session, the amount of buying increased, helping the market index rise slightly. Ending today session, the VN-Index increased 1.86 points to 771.63 points. The key stocks supporting the market upside were VIC (+0.86 points), ROS (+0.23 points), MSN (+0.19 points), VCB (+0.12 points) and HPG (+ 0.1 point). In the opposite direction, the stocks that limited the uptrend of the market were SAB (-0.35 points), NVL (-0.13 points), SBT (-0.1 points), CTG (-0.06 points), BID (-0.05 points). Market cash flow today focused on real estate Sector (FLC, FIT, DXG, HQC), oil & gas Sector, and technology Sector (FPT, CMG). Market liquidity recovered today with the total matching order value of VND 3,411 billion. The amplitude of fluctuation was at 3.06 which was lower than 7.01 at yesterday's. Market breadth was negative with 128 upside stocks / 138 downside stocks. On Hanoi floor, the HNX-Index gained 0.35 points to 102.64.


Market outlook
Today market liquidity concentrated on speculative stocks.  The increase of market liquidity was thanks to Real-estate stocks including FLC, ROS, DXG, FIT and HPG, the representative of Steel sector. VN30 also did not trade excitedly with low liquidity excepting for HPG, ROS, and VIC. The rebound trend of today market cash flow can only be maintained for short-term and unstably. With this trend, BSC recommended investors to maintain a conservative approach toward speculative stocks and wait for the returning of the cash flow spreading into the fundamental stocks in the upcoming sessions when VN-Index testing the short-term resistance level of 775 points.