20180516_BSC_Vietnam Daily Review_EN_Adjustment_TA_DXG_Chllenging the old peak

Highlights
• The market dropped sharply after three consecutive surges.
• The leaders were GAS (+0.76 points), SAB (+0.46 points), DIG (+0.09 points), TCH (+0.09 points), PVD (+0.09 points).
• The laggards were VNM (-3.64 points), VCB (-2.22 points), VIC (-1.92 points), BID (-1.74 points), MSN (-1.38 points).
• Selling pressure at banks and large cap stocks pulled the market down.
• The trading value of VN-Index in this session reached VND 3,469.8 billion. The trading range was at 20.28 points today. The market had 103 advancers and 189 decliners.
• Ending the trading session today, the VN Index dropped 18.88 points, closing at 1054.62 points. In addition, the HNX-Index decreased 2.16 points to 121.49 points.
• Foreign investors saw a net selling of VND86 billion on HOSE with VNM (VND 99 billion), HPG (VND 58 billion) and VRE (VND 26 billion). In contrast, they net bought 37 billion dong on the HNX.

Market comment
After three consecutive rising sessions, the market witnessed an adjustment today. In the morning session, the index shook slightly with the upward trend. However, at the beginning of the afternoon, strong selling pressure pulled the market down. Banking sector (BID, VPB) and some main stocks (VNM, MSN) were the cause for the market decline. The price fluctuation range of the column was quite wide, showing the unstable psychology of investors. BSC believes that the shaking sessions were inevitable in the context of the market has experienced a protracted decline. Investors should keep track of market signals, waiting for a stable stage to make a decision to disburse.