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VCSC Daily - Liquidity dry. What are investors waiting for?

Our view: The excess demand (about 18 million unmatched bids) we saw at the end of Wednesday session did not materialise into real buying on Thursday and in fact has turned to excess supply of over 9 million at the end of Thursday. We witnessed liquidity shrivel to a meagre VND110 billion on the HNX, a record low. The northern market traded in a narrow range throughout the session and closed nearly flat at 54 (0.03%).