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VCSC Daily - VIC and VNM lead weak rally

Our view: Although the market finally saw a positive swing with the VNI closing at 416.1 (+0.86%) and HNI at 69 (+0.41%), we would rather wait a few more days to confirm a clearer trend. Thursday’s gain on the VNI was in large part supported by two index-heavyweights VIC and VNM and low liquidity. Average trading turnover on the HSX (VND648 billion) was half last week’s. VNM hit ceiling after the opening bell as the company announced that it will ask shareholders to approve a 2:1 stock split.