BSC - Vietnam Daily Monitor 2015.05.21 - Fluctuation will occur tomorrow - Macro views

Summary

Oil & gas, banking and large-cap “full-room” stocks have led the market higher on Thursday. Market volume, however, decreased by 22% versus yesterday.

Foreign investors bought a net value of VND 72 billion over two exchanges, and they have net buyers for 4 consecutive sessions.

Recommendation

Short-term uptrend is suddenly established in recent sessions. However, we believe that a shake may occur soon due to a huge amount of stocks bought in recent times will be available for sale tomorrow (because of T+3 trading rule). If the supply well maintain, VN-Index may move to next resistance level of 570 pts.

We recommend investors to be patient in the next 1-2 sessions. For investor having high weight of stocks on portfolio, do consider reducing stock proportion in the next rallies.

Macro views

CPI slightly increase in May