20160504_BSC_Vietnam Daily Review_EN_VN-Index to conquer 600 pts in the next sessions_PVD, CSV Updates

Summary

Losing in the most of trading time, the VN-Index has returned strongly in the afternoon session. VNM, HPG and VCB were the main 3 advancers pushing the VN-Index up. However, buying power gradually weakened in the end of the day, causing the VN-Index rose slightly at closing. Market breadth was balanced on the 3 exchanges. Foreign investors remained net buyers on all 3 floors of the session today.

Recommendation

Positive psychological recovery since mid-session. We still believe that the market needs time to be retested. VN-Index can conquer the resistance of 600 points in the next few sessions. Investors can continue to hold the underlying shares in the portfolio, not need to rush to sell, and consider increasing the stock weight in the technical correction.

Company updates

CSV - South Basic Chemicals JSC (HSX)

PVD - PetroVietNam Drilling and Well Services Jsc (HSX)