BSC - Vietnam Daily Monitor 2015.04.23 - The market will fluctuate till the holidays - Macro updates

Summary

The stock market trading maintained slow in the morning, however, it has clearly changed in the afternoon, at the time when the stock indices suddenly dropped. Demand then helped the index recovered and closed near the reference level. Foreign investors keep buying for the 11th consecutive session on both exchanges.

Recommendation

The market's sentiment in the afternoon session was affected by the decline of the recent leading stocks such as CII, HBC, etc. However, it soon recovered thereafter. Other stocks maintained its own cumulation, therefore the decline did not spread.

We believe that the index will soon recover and become more positive after the holidays due to the net buying by foreign investors and business results. We recommend investors to maintain equity in the general portfolio.

Stock recommendations

Ho Chi Minh City's CPI rose slightly in April.

TPP restart today. BOJ's easing is likely to be strengthened.