6PM Call: Temporary pressure relieve - Update on QNS
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After 3 days under heavy selling pressure, all indices rebounded. The VNIndex gained 7.53 pts; the HNXIndex moved up 0.88 pt and the VN30 Index gained the most 8.39 pts. The number of gainers merely doubled the number of decliners. Market liquidity did not show much improvement compared to 3-day average trading volume. Banking shares attracted investors. MBB went to the ceiling; CTG and BID increased strongly while VCB stayed at the reference price. Except for MBB reacting to positive earnings results, the other banking stocks rallied on the back of rumor on FOL lifting. Our banking analyst commented that if the rumor was true, CTG should have been the most benefit stock, not BID. But in fact, BID was stronger today. Therefore, she does not believe the FOL lifting would come true in near future. Moreover, she also noted that the maximum FOL would be 35% in order to limit the rejection right of foreign shareholders.
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