BSC - Vietnam Daily Monitor 2015.08.11 - Need more time to break - Macro update

Summary

Insurance stocks and bank stocks increased significantly today. In contrast, majority “open-room” stocks closed in the red.

Recommendation

Market will not probably be early breakout the short-term peak of 640 points in the coming time. Technically, the 600 points level has been tested repeatedly in the recent period, and we expect VN-Index will not be easy to break down this support level. Investors holding a high proportion of stocks in the portfolio should consider reducing stock weight in gaining sessions. The cautious investors should be outside the market and observe more carefully.

Macro view

Quick assessment of the impact from China's Yuan devaluation