BSC - Vietnam Daily Monitor 2015.06.30 - Need a correction

Summary

The increase of the VN-Index weakened significantly compared to that yesterday as predicted by BSC Research. Indices continued diverge, VN-Index closed in the green while HNX-Index ended in the red.

The market's focus is their transaction in large cap stocks by foreign investors that helped VN-Index soar further. However, the majority of stocks declined as the market breadth narrowed significantly.

Recommendation

Markets need a correction in the next session. The currently rally of VN-Index mainly depended on large-cap stocks, while the rest on exchange board was negative.

Investors should take profit in stocks which has increased significantly. Investors should not open a position in the next session. The careful observation and patience are necessary at this moment.