BSC - Vietnam Daily Monitor 2015.07.16 - Foreigners are net sellers

Summary

The insurance stocks continued to increase significantly when VN-Index and HNX-Index continuously decreased. The foreign investors backed to sell on both two exchanges.

Recommendation

The market has been moving as our previously prediction: The peak of 640 points is not still broken out, foreign investors sold again, the magnitude of this correction will be not really great by dint the belief of investors in the mid-term expectation. We continually believe that the market will enter into a period of sideway down but will not puncture the support level of 610 points, accumulating before rising thanks to Q2 earnings of companies.

We recommend that investors may allocate partly the portfolio on stocks, however, this is probably not the right time to buy because this correction might last for a time. Now, observing the market and waiting for a better buying opportunity is recommended.