20171215_BSC_Vietnam Daily Review_EN_ETFs Restructuring_TA_PNJ_Signs of correction

Highlights
• Although VN-Index declined at the opening, it quickly rebounded thanks to the cash flow from investors. However, the strong sell-off of ETFs made the market drop in the ATC session.
• The leaders were VJC (+0.94 points), VCB (+0.94 points), GAS (+0.86 points), HPG (+0.6 points) and VRE (+0.5 points).
• The laggards were VNM (-2.17 points), ROS (-1.8 points), VIC (-1.77 points), MSN (-0.6 points) and BID (-0.19 points).
• Increase momentum continued to spread throughout the market, small and medium cap stocks were attracting a lot of attention.
• The order matching value of VN-Index in today session reached VND5,622.6 billion. The daily trading range was 6.61 points. The market was positive with 184 advancers / 107 decliners.
• Ending the trading session today, VN-Index dropped 0.69 points, closing at 935.16 points. In addition, the HNX-Index gained 0.15 points to 111.61 points.
• Foreign investors today were net sellers of VND 259.29 billion on VIC (VND 200 billion), MSN (VND 106.8 billion), and HBC (VND 84 billion). Along with that, they net sold VND 8.98 billion on the HNX.

Market Outlook
In general, the last trading session of the week was considered positive when almost stocks were recovering. It seemed that investors have not been surprised by the trading of two ETFs, the stocks that have been removed from the portfolio went opposite direction, while ASM was dragged down to the floor price, DPM and ITA still slightly increased. Besides, liquidity in the market today turned back and shifted into small and medium cap stocks which showed the strong psychology of investors. Steel, Securities and Oil&Gas sectors were the biggest supporters for the momentum while sectors with market factors such as Real Estate and Banking were clearly divided. BSC believed that with the support from new cash flow, along with the end of the correction wave, it is opening up chances for new investors when the market is gradually recovering.

TA
PNJ_Signs of correction