BSC - Vietnam Daily Monitor 2015.12.15 - Bottom may has been successfully created

Summary

VNM and VCB led Vietnam market today. KDC dropped to the floor price as VNM ETF suddenly decided to reduce weight of this share in their portfolio.

Recommendation

Market seems to bottom successfully around 561 points, and investors are advised to buy. The market is likely to have a technical recovery, but it will soon return to flat as foreign capital is difficult to flow into the Vietnam market during Christmas and New Year. Investors should continue to take position in down sessions and not need to chase high prices.