20170905_BSC_Vietnam Daily Review_EN_Approaching the old peak

Highlight
• The VN-index opened up above 790 points, then slightly adjusted down below the reference before continuing to increase momentum to the end of the session
• The top gainers: VCB (+0.8 points), GAS (+0.73 points), VIC (+0.67 points), VNM (+0.5 points) and VJC (+ 0.33 points).
• The biggest losers were CTG (-0.17 points), MWG (-0.13 points), MSN (-0.11 points), BID (-0.11 points) and BHN (-0.1 points).
• Today's cash flows were distributed in many sectors, especially SCR, VIC, VNM, HPG ... while weakness in banking, real estate and speculative stocks
• Liquidity improved slightly with trading value of VND 3,095.6 billion. The daily trading range was 6.66 points.
• Market breadth was negative with 128 shares increased / 146 shares decreased.
• Ending the trading session today, VN-Index gained 3.58 points, closed at 792.31 points; HNX-Index also rose 0.56% to 104.38 points.
 

Market outlook
In the first trading session of this week, VN-Index increased and was approaching the old peak at 795 points. However, with the liquidity not really being flourished as well as the lack of leading stocks, the process of approaching the old peak is likely to face strong selling pressure and the market may fall into a few adjustment spans before successfully testing this threshold. Investors may consider profit taking for some stocks that have achieved the expected return as well as taking an advantage of market corrections to increase their stock exposure with key stocks expected to have positive earnings at the end of this year.