BSC - Vietnam Daily Monitor 2015.07.08 - A necessary correction - SJS, TRA Updates

Summary

Vietnam market declined while trading volume increased by 15.5% compared to yesterday. However, only shares which recently had much gains corrected, notably VCB, BID, HCM and TCM. Insurance stocks continue increasing significantly.

Recommendation

It is no surprise that Vietnam market declined after having a sharp increase. However, if the market continues falling with high volume, short-term peak is likely to be established. Investors are recommended taking profit gradually in highly profitable gainers, and now one can choose time to cover.

Investors should patiently wait for the next 1-2 sessions, no need to rush to open position during this time.

Company update

SJS - Songda Urban & Industrial park Investment & Development JSC

TRA - TRAPHACO JSC