20200316_BSC_Vietnam Daily Review_EN_Unable to recover, the Fed continues to cut interest rates urgently_TA_VRG_Rebound

Market outlook 
In the morning, VN-Index differentiated and struggled around the reference level when investor sentiment was somewhat stabilized. Large cap stocks like GAS, PLX, HPG, TPB, and FPT recorded a recovery that also narrowed the decline. In the afternoon, the movement index was somewhat more negative and officially lost nearly 14 points. The market had a consensus session with other big stock markets in the region after FED's decision to cut interest rates down to 0% -0.25% on March 15. Besides, the Fed also launched a quantitative easing package worth $700 billion and at the same time allowed the required reserve ratio of some banks to be reduced to 0%. According to BSC, the unexpected and drastic action of the Fed shows that the health of the US economy in particular and the global economy in general is approaching the alarming threshold and needs support. Therefore, in the context of Vietnam market, the following actions of the State Bank need to be monitored more.

Future contracts: All future contracts decreased following VN30. Liquidity decreased strongly, VN30 might might accumulate in coming sessions. The nearest support of VN30 is around 690-700 points.
Covered warrants: In the trading session on March 16, 2020, most coverred warrants decreased following underlying securities.  Trading volume decreased.

Technical analysis: VRG_Rebound
(Please go to page 2 for buy/sell status of stocks and page 4 for Blue chip stocks information)

Highlights
• VN-Index -13.92 points, closed at 747.86. HNX-Index -1.76 points, closed at 99.62.
• Pulling up the index: GAS (+1.36); SAB (+1.19); PLX (+0.23); TPB (+0.20); TCH (+0.17).
• Pulling the index down: VCB (-4.06); BID (-2.46); CTG (-1.50); VNM (-1.06); VPB (-1.04).
• The matched value of VN-Index reached VND 3,125 billion, -27% compared to the previous session.
• Amplitude is 21.01 points. The market saw 133 gainers, 45 reference codes and 239 losers.
• Foreign net selling value: VND 385.60 billion on HOSE