Our view: The markets traded higher for a second day in a row. The VNI rose to 426.98 (+0.81%) and HNI to 70.79 (+0.44%). VNM and MSN led the rally on the HSX. Although, the highlight of Thursday’s session was that liquidity improved significantly. Daily average traded turnover was 44% higher than it was last week. Of course we saw investors selling in the strength by the afternoon session which dampens our hope that a full swing rally was in place.