20160510_BSC_Vietnam Daily Review_EN_Short-term trend - technical correction

Summary

Banking stocks with a strong increase, especially BID (+ 2.8%) were the main driver helped VN-Index closed up at 605 points today. Trading volume increased slightly while trading values dropped with more decliners than advances further reinforced the view that market is correcting. HNX ended down slightly with lower trading volume and values than yesterday. After increasing to help VN-Index gain points yesterday, VNM fell today. Trading volume from HPG (-1.2%) increased sharply, +43%.

Recommendation

The support of large-caps is a good signal for the current market movement, and technical correction will be stronger if these blue-chips weaken. Investors consider lowering the stock proportion.