BSC - Vietnam Daily Monitor 2015.06.10 - Selling pressure may decline - STK Update

Summary

Market mixed on Wednesday because Oil & Gas and steel stocks boosted while automobiles and banks shares continues declining.

However, market breadth was more balanced with 202 advancers / 187 losers on both exchanges.

Recommendation

We believe the correction will persist tomorrow under profit-taking pressures. If VN-Index’s support level of 568-570 pts is not broken, short-term buying opportunities may appear due to VN-Index successfully re-test this support line. In contrast, if VN-Index fall below 568 – 570 pts, we believe that investors should quickly reduce weight of shares in portfolio and wait for other reversal signal.

Company update

STK - Century Synthetic Fiber Corp