BSC - Vietnam Daily Monitor 2015.10.09 - Foreigners are back

Summary

Vietnam market has faced with strong selling pressure at the end of today session, in spite of closing in the green. Oil & Gas stocks led the market today thanks to rising oil prices.

Recommendation

After TPP effects had temporally subsided, the effects of rising oil prices as well as the back of foreign investors have supported the market for last two sessions. Technically, the VN-Index is approaching near resistance at 590-595 points, so the market is likely to soon correct slightly in the next few sessions.

Investors can gradually take profit high gainers on the portfolio to lower the proportion of shares. Investors holding more cash should patiently wait and only take position in down sessions.