BSC - Vietnam Daily Monitor 2015.07.28 - A black hen lays a white egg

Summary

Lively trading on the stock market occurred today, especially on HSX. The indices closed down even VN-Index traded positively most of the sessions. Market breadth was negative as falling stocks outnumbered winners by double. The group benefit from EUR loan gained significantly while oil and gas stocks slumped together with global oil price movement. Foreigners were net sellers on the HSX while their selling on HNX is not so strong

Recommendation

640 is considered to be a hard to break through level for VN-Index, especially with weak demand of foreign investors. The index is likely to accumulate at current level. Investors could consider to reduce their holdings proportion and avoid chasing stocks in gaining sessions. Risk averse investors should not taking positions and have further observation of the market.