BSC - Vietnam Daily Monitor 2015.09.28 - Keep accumulating

Summary

Market suddenly fell at the end of today trading session, as a result, both the VN-Index and HNX-Index closed at their today lows. Market breadth was negative, and foreigners unexpectedly backed to sell on the HSX.

Recommendation

In spite of today’s decline, the VN-Index has not yet fallen below the supporting level at 560 points, thus its flat base pattern established over half of this month has been intact. The market fell sharply mainly due to selling pressure of foreign investors in late today trading session. If this action is extraordinary and does not represent the sell-off trend of foreign trading activity, today declining session will not threaten significantly the overall market direction. Investors should take moderate position in fundamental shares expected to have good Q3 earnings in the down sessions.