20160728_BSC_Vietnam Daily Review_EN_Weak rise_Company Updates CTI APC

Highlight

The market had contradictory movements when VN-Index gained points (+1.03 points) and HNX lost points (-0.18%). Market liquidity showed no big changes when cash flow continued to focus on blue-chip stocks. International macroeconomic news seems to impact less on market psychological when trading in the morning session was quite poor though the information last night that Fed decided not to raise interest rates and left the possibility to coming September is quite positive. The highlight of the market may include the Viglacera shares auction result: all 30 million shares for sale with starting price at 11,700 dong per share had been bought by 4 institutional investor and 1 individual investor with an average price of 13,923 dong per share, foreign investors bought half of the shares, respectively with 15.492 million shares.

Recommendation

As expected earlier, VN-Index continued to move positively (+0.2%) to approach the resistance level of 660, trading volume fell slightly despite that cash flow continued to be active, focus on large-cap stocks as HPG, VNM, MSN, HHS, SSI, VIC. Although the liquidity is less than the previous session but Banking stocks still had a representative which supported the rise of VN-Index is VCB. Flourish cash flow on large-cap stocks is a good sign for VN-Index. However, (1) foreign investors’ net buy amount began to be narrowed, (2) technical indicators such as MFI, RSI still could not overcome the trend line, ADX continued to stay below 20, though +DI had risen above -DI, (3) trading volume seems not enough to help VN-Index to breakout when it is still lower than the 10-day average, therefore VN-Index may face strong resistance near the level of 660 and move sideways in the next sessions. Investors can use the strategy “buy at low – sell at high” to maximize profits in portfolio.

Company updates - CTI - Cuong Thuan IDICO Development Investment Corporation (HOSE)

Company updates - APC - An Phu Irradiation Jsc. (HOSE)