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VCSC Daily - Losing streak end but conviction weak

Market Commentary

03 Oct 2012

Our view: The market ended a prolonged losing streak but buyer conviction remains weak. We saw the indices bounce from technical supports at 383 and 53 to multi-point intraday highs only to retreat at session end. The VNI closed at 385 up just 0.3% and the HNI at 54.2 up 0.46%. Liquidity jumped 44% to VND712 billion but mostly on the back of put-through transaction with two block trades of Sacombank shares (STB) worth VND130 billion the highlight.

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