20160311_BSC_Vietnam Daily Review_EN_Week ahead-580 pts breaking expectation_Macro Updates

Summary

VNM inspiring market today, helping the index had slight gains. Various mid-cap stocks, especially in steel, cables and textiles, increased together; Market breadth was relatively positive. The net selling value of foreigners mainly focused on the HSX today.

Recommendation

The money flow is currently circulating among the sectors. That is an active movement. Thus, we expect that VN-Index would break the 580 points in the next week. Investors should continue buying stocks in down sessions, not need to rush to sell the entire portfolio and wait if VN-Index exceeds 580 points.

Macro updates

ECB to lower rates, and expand the QE.

Oil production freeze meeting may be postponed since Iran refuses to participate