BSC - Vietnam Daily Monitor 2015.04.02 - Not to buy in a weak recoverd session - Oil price and P5+1 meeting

Summary

The market rallied quite well today thanks to (1) GAS rebounded and (2) Foreigners kept buying on both exchanges.

However, it is notable that the liquidity is relatively lower than that yesterday.

Recommendation

We believe that this session is a technical rally by weak demand. Therefore, the upward trend need more signal to be confirmed. We hold the view that not to sell when the market panic as yesterday. Instead, investors can reduce the proportion of stock by selling in the technical recoverd sessions as today.

If the VN-Index fall to 525-530 points, investors may consider buying with low proportion. We recommend the point of view above for risk loving investors only. For risk averse investors, we recommend to be patient and stay out of the market at the present time.

Macro views

Oil price and P5+1 meeting