BSC - Vietnam Daily Monitor 2015.07.03 - Stock market might soon correct

Summary

The VN-Index and HNX-Index boomed in the last day of the week thanks to bank and securities stocks. Market liquidity and market breadth were positive from the early morning.

Foreign investors increased dramatically their net buying value on the market.

Recommendation

Market traded high due to increasing demand from foreign investors. Regarding the current momentum, it is likely that the market would adjust at the beginning of next week. Resistance level in the coming sessions will be 620 points. If foreign investors keep buying, the slump will not be severe.

Investors who previously had not chances to take position could consider to buy some when the correction takes place