BSC - Vietnam Daily Monitor 2015.03.30 - VNM ETF might stop selling tomorrow

Summary

Foreign investors continued to sell on both exchanges, especially on HSX that broke the technical level of 550 of the VN-Index.

Market breadth was narrow; oil and gas and financial stocks, such as real estate, securities and banking declined.

Recommendation

Foreign investors seem to be the negative factor for the current market. However, after dissecting net selling value of VIC, we found that it become positive. We expect a recovery session tomorrow.

However, we recommend risk-loving investors to reduce the proportion of risky stocks if they decrease lower than expected. Cautious investors continued patient and stay out of the market at this point.

Stock Recommendation

We recommend to sell SAM, DRC, REE, BVS, SCR, and IJC.