BSC - Vietnam Daily Monitor 2015.06.02 - Adjustment is necessary to rebalance

Summary
Two exchanges adjusted, decreased by approximately 1%. However, most of the liquidity lost yesterday has been recovered. Bank stocks suffered a strong profit taking pressure, and it also dragged the other large cap stocks.
Meanwhile, foreign investors significantly increased their net buying on the 3 exchanges.

Recommendation
The stock market is sustaining a short-term profit taking, especially banking stocks which are the strongest sector in the recent short time. Adjustment is necessary to rebalance the market sentiment, enabling further advancing prospect of the index in future. The support for this correction is the range between 560 and 565 points.
BSC recommends investors to consider reducing the proportion of sharp advanced stocks, and turn to accumulating or slight advanced stocks. Or, investors might wait until the VN-Index fall to the lower price.