20160412_BSC_Vietnam Daily Review_EN_Investors should take profits

Summary

Increased selling pressure caused investors torn between buying and selling today. Sell orders poured out in the end of the session, causing the HNX-Index and UPCOM-Index to close in the red. Only VN-Index closed with a slight increase in price. Banking groups, excluding VCB, along with MSN were the stocks affecting the rise of VN-Index today. Market breadth was narrower than the previous day, with more decliners. Foreign investors remained net buyers on the exchanges. Excluding net sales of VIC, basically foreigners were net buyers on the HSX with relatively high value.

Recommendation

In the current context, there are not much factors to support the market. We believe that it is time to take profit, or lower the proportion of stocks in the portfolio when VN-Index approaches 580 points. We think investors should consider reducing the proportion of stocks in strong beats and just buy at the corrections, don’t chase high price during this period.