BSC - Vietnam Daily Monitor 2015.03.19 – Investor should underweight stock in the rally

Summary

Foreign investors turned to sell strongly on both exchanges, making the index dropped.

Market breadth was fairly negative.

Large-cap stocks mostly fell.

Recommendation

Foreign money keep playing the leading role in the market. We note that VNM ETF likely stop buying next week as it is currently discount. Indices mighy increase tomorrow due to the VNM ETF’s trading. However, we believe that this is a short recovery session. Investors should take advantage in lowering proportion when the indices increase.

Short-term portfolio

PVT has already hit the stop loss, we recommend investors to wait the movements tomorrow to make a decision.