20170829_BSC_Vietnam Daily Review_EN_Red returned

Highlights
Right from the open, VN-Index declined sharply and traded below the reference level throughout all the session. Although there were times when the index rebounded above 777, but finally ended the trading session near the opening index. Stocks led the market down today were SAB (-0.71 points), followed by MSN (-0.63 points), VCB (-0.51 points), VNM (-0.37 points) And GAS (-0.24 points). In contrast, stocks that held back the downward momentum included VIC (+0.47), ROS (+0.18 points), SBT (+0.18 points), MWG (0.12 points) and HBC (+0.1 points). The pressure of profit taking led to the drawn of cash flow in most sectors such as banking, construction and VN-30, only some exceptions with a large capitalization (ROS, HPG, ACB-HNX) and duo Sugar stocks (SBT, BHS) are still attracting cash flow. The liquidity today slightly increased compared to yesterday with the transaction value of VND 4,115 billion. The daily trading range was 3.39 points. Market breadth was negative with 164 shares downward / 106 shares upward. Ending today session, VN-Index decreased 3.23 points (0.42%) to 774.03 points; The HNX-Index slightly decreased 0.38 points (0.37%) to 103.52 points.


Market outlook
In today session, the profit-taking pressure occurred after a series of 4 consecutive rising sessions with red covering the market and increased liquidity. Stocks that had a significant gain in the recent sessions were hit by strong selling pressure today, such as FLC, HSG, SSI and MBB; Cash flow were also taken out of speculative stocks and VN30. Today's index fell below psychological resistance level of 775 points and was fluctuating around the support level of 773 points. BSC viewed today session was the short-term correction of the market after the rising period. In the upcoming sessions, the VN-Index is likely to rise again but the medium-term correction trend has not finished, especially in the information valley as the current period.