20170828_BSC_Vietnam Daily Review_EN_Continue rising

Highlight
The first trading session of the week witnessed a pullback of the index around the reference level in the first half of the morning, before showing a noticeable increase. VN-Index maintained its upward momentum until the afternoons, despite a slight correction in the middle of the day, today session closed and rose significantly by 5.63 points. Major contributed stocks of today's market were ROS (+1.09 points), GAS (+1 points), VIC (+0.81 points), followed by VCB (+0 35 points) and PLX (+0.3 points). In contrast, stocks that had a negative impact on the index's uptrend included NVL (-0.15 points), VPB (-0.15 points), BID (-0.11 points), SAB (-0, 1 point) and VNM (-0.09 points). Today's cash flow mainly focused on real estate, steel and oil stocks, especially the FLC and ROS shares, which attracted huge cash flow with the trading value of nearly VND 1,020 billion (about 20% of total market value). Market liquidity had a positive increase comparing to the final trading session of last week with a matching value of VND 3,950 billion. The amplitude of fluctuation was 6.75 points, higher than the previous session. Market breadth turned positive with 146 gainers and 124 losers. Ending today session, VN-Index increased  by 5.63 points (0.73%), up to 777.26 points; HNX-Index also rose by 1.27 points (1.23%) to close at 103.9.
 

Market outlook
Today, traders observed a rebound of the index as well as market liquidity. VN-Index has overcome the psychological resistance level of 775 points and fluctuating around the resistance level of 777 points, the technical indicators was more positive but not definite. Market liquidity in recent sessions has improved significantly, however, it should be noted that the current cash flow tended to spread into speculative stocks, while not really supporting the VN-30 stocks and Banking stocks (except ACB). Our analysis is that the market is likely to rebound slightly in the short term. BSC recommended investors to be cautious of stocks with speculative factors and wait for clear signal of cash flow at the leading stocks.