BSC - Vietnam Daily Monitor 2015.04.03 - VNM ETF might back to sell next week

Summary

Market liquidity declined despite indices improved. The positive point is that foreigner kept buying on both exchanges.

Technical indicators show the short term downtrend.

Recommendation

Based on our prediction that VNM ETF would sell in the next week and the weak domestic stock demand, we believe that indices would decrease if foreign investors sell strongly in the next week. We predict that the VN-Index would swing in the range of 530 – 555 points on Monday.

We recommend risk lovers to reduce stock proportions on portfolio and wait a better buying opportunity next week. With cautious investors, we should not recommend opening any position at current time.

Stock recommendations

Short-term portfolio: Sell REE