20171016_BSC_Vietnam Daily Review_EN_Technical Correction

Highlights
• Opening the first trading session of the week, the market had relatively positive movements. However, selling pressure increased significantly in the early afternoon, causing VN-Index to decline.
• The top leaders were VJC (+0.55 points), MWG (+0.3 points), VPB (+0.26 points), NVL (+ 0.255 points) and VCB (+ 0.23 points).
The top laggards were VIC (-1.45 points), HPG (-0.57 points), VNM (-0.46 points), GAS (-0.45 points) and VCB (-0.43 points).
• In general, steel, real estate, fertilizer tended to decrease and had negative impact on the market today. On the other hand, Securities, Pharmaceuticals and some large cap stocks contributed to the green color of the HNX-Index while holding back the decline momentum of the VN-Index.
• The trading value of VN-Index today was VND 3,361,373 billion. The daily trading range was 4.42 points. The market breadth was negative with 128 gainers / 149 losers.
• Ending today session, VN-Index decreased slightly 1.52 points (0.19% down), closing at 819.43 points. On the other hand, the HNX gained 0.2 points (0.18%, respectively) closing 109.30 points.

Market outlook
Opening today trading session, the market fluctuated slightly but remained green color for most of the trading time, however, the selling pressure at the end of the session forced the market declined and fell in red. It is worth noting that the major stocks today fell sharply while the small and medium stocks advanced in today trading session such as HAI, HAR, KLF. Today's market index lost the level of 820 points but this correction may be needed for the higher level although the resistance level of 830 is quite challenging. The positive point was that although the selling pressure was strong, the interest and demand from investors were still high as the market liquidity recovered. Cash flow tended to return to sectors such as Banking, Construction, some oil & gas stocks and speculative stocks. With the foreign investors continued to be net buyers with the external available cash, the current market outlook is still optimistic, investors may consider to increase their stock proportion as this is the active week of the third quarter financial reports.