BSC_20160104_Vietnam Daily Review_EN_Perhaps technical traders need to wait

Summary

VIC led the market today. Some important stock groups like Bank, Insurance and Oil & Gas did not rose.

Recommendation

Several stock market in Asia also dropped significantly today, which partly explains the decline of VN-Index in this afternoon. Because of the absence of both leading stocks and foreign cash flow, Vietnam market is expected to continually shake around resistance at 580 pts in the next sessions.

Investors holding a high proportion of shares in the portfolio may consider lowering stock proportion as VN-Index approaches the strong resistance 580 points and recovering in technical corrections.