Market Trends: The last bus at midnight

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Vietnam stock market had a volatile session on Tuesday, as the major index corrected twice in a wide range before a tremendous demand appeared in the latter of session causing the index to explode.

 At the end, VN Index gained 6.23 points, or 0.45% and closed at 1,391.63 points. Liquidity decreased but was still at high level when the trading value reached VND 21,027 bn, for 747mn shares traded. Foreign investors reduced their net selling size significantly when the net trading value was VND 62 bn.

 A spectacular reversal at the end of the session by steel giant HPG (+2.18%) along with GAS (+1.61%) and FPT (+2.11%) helped VN Index regain the green. Meanwhile, the trio of food and beverage VNM (-0.55%), MSN (-0.57%), and SAB (-0.83%) adjusted slightly and had a negative impact on the index.

 The highlight of the day was on seafood stocks when the industry capitalization increased by 4.81%. Notable stocks include VHC (+5.83%), ANV (+6.88%), FMC (+4.22%).

 Technically, VN-Index retested the support level at 1,380 and only accelerated to recover in very last times of the session to close and form a green candle with a long shadow, showing that the demand was waiting for an opportunity to catch the bottom. The RSI, after touching the level of 60, has also increased again, showing that the situation is more positive now. In general, the spectacular reversal of the large-cap group at the end of the session made the market seem more positive after a sideways chain, the cash flow outside also had a chance to disburse in this correction. Therefore, the index is likely to create momentum to form a new uptrend. 

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