20170911_BSC_Vietnam Daily Review_EN_Turn Down

Highlight
• In the beginning, VN-Index continued its increasing momentum but early in the afternoon, the index fell back.
• Key stocks leading the market down today were GAS (-0.75 points), VIC (-0.72 points), VPB (-0.44 points), VNM (-0.36 points) HPG (-0.3 points).
• stocks holding back the downward momentum were SAB (+0.66 points), BHN (+0.46 points), VJC (+0.37 points), BVH (+0.21 points) and ROS (+0.18 points).
• Today's cash flow focused on stocks with large market capitalization such as SAB, ROS, MSN, and VJC while profit taking took place in most stocks in the afternoon session.
• Market liquidity slightly increased compared to yesterday with the order matching value of VND3,244.8 billion.
• Market breadth was negative with 79 gainers / 189 shares losers.
• At the end of today session, VN-Index lost 3.73 points or 0.47% to close at 797.47, while the HNX also dropped 1.03 points or 0.37% 99%) to 102.89 points.
 

Market outlook
In the morning session, VN-Index retained its upward momentum but mainly due to pulling force focused on a small number of large-caps, but this momentum did not spread over leading sectors making this trend too fragile. In the afternoon session, profit taking pressure has blown off pulling effort of these stocks, causing market reversed to go down. BSC believes that it is a short-term correction of the market; the index is likely to test the support level of 795 points. Investors should take profit of stocks that have achieved their expected return and increase their exposure for stocks with good earning prospect if the market continues to adjust.