BSC - Vietnam Daily Monitor 2015.07.01 - The money remains in the stock market

Summary

VN-Index corrected as our expectations in the previous. However, the HNX-Index, the UpCom-Index and the VN30 were still active, closed in the green.

Automobile stocks suddenly dropped while oil and gas, minerals rose further today. Foreign investors minimized significantly their net buying value.

Recommendation

This correction is likely the short-term profit-taking action. The market liquidity is still good, the money flow is circulating among sectors in the market and foreign investors remained net buyer. Those things are the key supporting factor for the short term prospect.

The VN-Index might correct for no more 1-2 times before returning to challenge the resistance. The expected range is between 580 and 600 points in the short term. Investors consider opening a position in the declining moment to take advantage in the upcoming rally.