BSC - Vietnam Daily Monitor 2015.10.12 - Market to challenge 595 pts

Summary

Foreigners are continually buying strongly on the HSX (excluding transactions value of CII). Therefore, some financial stocks like BVH, VCB and HCM led the market today.

Recommendation

Foreigners are back, and investors can be confident in the market uptrend, at least in the short term. A short-term correction will most likely to soon take place around 595 pts due to profit taking. However, if foreigners continue to be net buyers, the market is still expected to rise. Investors should gradually take profits in the rally and recover at down sessions, and not rush into chasing high prices.