20160826_BSC_Vietnam Daily Review_EN_Positive before weekend

Highlight

Contrary to the fluctuations in the last 2 weeks, VN-Index gained strongly and decisively today thanks to the support from large stocks such as VCB, MSN, GAS, CTG. Since opening, VN-Index surged 662 points and maintained the momentum throughout the session before closing up 9.25 points at 667.75 (+ 1.4%). HNX also enjoyed very active movement throughout the day and closed up 0.61 points at 83.93 (+ 0.74%). Foreign investors remained net sellers on the HSX with nearly 94 billion, net buyers on the HNX. Market breadth remained positive with 229 advancers / 162 decliners

Recommendation

Market caused surprise today as it opened above weak resistance 660 by strong demand on VCB and GAS and some banking stocks with increased liquidity. VN-Index maintained momentum throughout the day and spread it to most of the shares on the market. Information about the plans to increase bank capital could spread a positive effect today, the market has a chance to get closer to the resistance level of 670 in the next week, if the market demand maintains it will be an opportunity for investors to take profit ares and keep proportion of stock in portfolio at a reasonable level, maintain a cash balance in 2 weeks due to the reallocation of ETFs.