20171018_BSC_Vietnam Daily Review_VN_ Red Dominating

Highlights
• After yesterday's strong increase, the VN Index surpassed 830 points in the morning session. However, strong selling pressure together with the decline of Blue-chips dragged the VN Index down slightly and closed below the reference level.
• Leading stocks included ROS (+1.48 points), SAB (+0.63 points), PLX (+0.4 points), MSN (+0.23 points) and CTG (+0.15 points).
• Stocks that dragged the market down included BHN (-0.76 points), VCB (-0.42 points), VIC (-0.41 points), HPG (-0.36 points) and MBB (-0.24 points).
• The Banking, Real estate and Construction sectors declined, along with other blue-chips such as VIC, HPG, FPT making the index to turn red. However, bullish price movement of PNJ, MWG, GAS helped the market not falling too deep.
• The transaction value of VN-Index today reached VND 4,008.197 billion. The daily trading range was 4.43 points. The market breadth was negative with 105 advancers / 166 decliners.
• Ending the trading session today, the VN-Index slid 0.57 points and closed at 827.72 points. Having similar trend, the HNX fell 0.42 points to 109.43 point.
 

Market outlook
VN-Index cannot maintain the momentum as the trading range of the market was quite narrow today. After a little “too excited” trading session yesterday, most stocks in the Banking sector have experienced correction today. Although today's market index has reached the resistance level of 830 points, it failed to break through and turned back. This movement has affected to the psychology of investors, triggering selling pressure at the end of the day, especially in Steel stocks. The VN-Index fell sharply and closed below the reference level despite the huge support from the Oil and Gas sector. The downtrend also spread throughout the market. However, liquidity, the only highlight of today session, tended to increase sharply (reaching VND 4,000 billion, the highest level since September 1, 2017) and concentrated in companies with good results in the third quarter such as VPB, DXG, PDR, FPT and Real estate and Securities stocks. In general, today session maybe just a short-term correction after the boom yesterday as the attention of investors and cash flow are returning to the market.