BSC - Vietnam Daily Monitor 2015.10.07 - Short term profit-taking pressure

Summary

Vietnam market in general and “TPP stocks” in particular corrected on Wednesday. Notably, foreign investors backed to buy strongly on the HSX (worth VND 159 billion), however, most of which is put-through transaction values.

Recommendation

The psychological effect of TPP likely will not last long in short term due to the humor of TPP is not too unfamiliar to investors. And the market will be difficult to maintain rising momentum in the long term without the leading of foreign investors. Now, TPP and 3Q earnings are still the most positive factors supporting the Vietnam market. We continue to retain our previous investment recommendation. Accordingly, Investors holding fundamental shares can gradually take profit in the up sessions and not need to chase high prices.