BSC - Vietnam Daily Monitor 2015.05.11 - Positive sideways in this week

Summary

Despite increasing in half today's session, two indices closed at the lowest day in the red. Liquidity significantly increased.

Foreign investors were net buyers on the market in Vietnam with a total net value of over VND 60 billion.

Recommendation

Starting at 551 point, we forecast that the market might move sideways and slightly increase in the upcoming week. In last week's report, we have mentioned to our basics for the above forecast that are the absence of strong factors which could affect the indices.

The stocks continued divergence: weak marketable stocks, oil and gas stocks' adjustment. However, we also note that the oil price recently increases, especially in April. The recovery of oil prices (approximately by 20%) can enhance the oil and gas stocks prices in the near future.

We continue to recommend investors to maintain a low weight of stocks, and not to buy in rally session.