20160301_BSC_Vietnam Daily Review_EN_The market is still consensus

Summary

The stock market rose slightly. The recovery of VNM has supported the index, as oppose to yesterday’s trading session, when the fall in large cap stocks, and banking stocks took the market down. Other sectors remained positive today. The highlight of the day came from mineral stocks and REE (with the news of loosening room for foreigner’s ownership to 49% from 43%). This has brought positive investor sentiment, especially in REE’s trading activities in the beginning of the afternoon session. The market breadth was fairly positive. Foreign investors were net buyers on the HSX and HNX with minor amount.

Recommendation

The indices have a relative state on the technical basis, thereby a shaking might occur with small margin in the next session. Investors should continue buying stocks in the technical correction of the market, especially when the VN-Index to test the 560 points, and consider selling at high price.