6PM Call: The VN-Index Reached New High- Update on microeconomics
​Despite the lack of support from many banking stocks, the VN-Index climbed to a new record high of 786.81 on the strength of the VN-30’s stocks including SAB, GAS and VCB. The VN-30 also outperformed the market in terms of breadth as the VN-30 saw a positive ratio of gainers/losers at 14/13 (vs. a negative ratio of 124/159 of the VN-Index). This indicated that the stock-picking strategy based on each stock’s catalysts is reasonable. We recommend investors to pay attention to stocks enjoying positive Q2-2017 results and even stocks falling into the oversold territory in the earning seasons.
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