20190919_BSC_Vietnam Daily Review_A positive reversal, Fed cut interest rate_TA_ACB_Strong uptrend

Market outlook 
Contrary to expectations, the market fell in the morning session after FED announced to cut interest rates by 0.25% for the second time this year due to the constraint of large-cap stocks VHM, VNM and GAS. In the afternoon, positive cash flow in many stocks of Bluechips like MWG, FPT, VCS and Banking stocks helped VN-Index upside down and closed at 997.1 points. Market liquidity fell slightly, reflecting the cautious psychology of investors as a result of Fed's unclear interest rate orientation and September derivative contract maturing today. BSC believe this sentiment is likely to continue tomorrow when ETFs restructure their portfolios.

Future contracts: All future contracts increased. 1-month future contract expire today and has strong impact on the base index. Investors should prioritize buying with target price around 915 points for long-term contracts.
Covered warrants: In the trading session on September 19, 2019, the market was negative although the majority of underlying securities increased. Trading volume decreased. VNM is in a trend of short-term recovery. Liquidity remained positive above the 20-day average. Technical indicators shown bullish signal in the medium term, and will create an incentive to increase the stock price of this stock in the coming sessions.

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

Quick report: Fed cut interest rate by 0.25%

Highlights
• VN-Index +1.95 point, closed at 997.10. HNX-Index +1.75 points, closed at 104.04.
• Pulling up the index: VCB (+0.99); CTG (+0.50); MWG (+0.42); TCB (+0.36); FPT (+0.28).
• Pulling the index down: VIC (-0.68); BID (-0.34); MSN (-0.24); HNG (-0.14); GAS (-0.11).
• The matched value of VN-Index was 2,817.0 billion dong, -10.56% compared to the previous session.
• The trading band is 6.65 points. The market has 137 gainers and 151 losers.
• Foreign net selling value: 3.69 billion dong on HOSE, including PGD (18.57 billion), VIC (15.13 billion) and VHM (12.40 billion). Foreigners were net buyers on the HNX with a value of 2.39 billion.