BSC - Vietnam Daily Monitor 2015.11.24 - Market drop would not be too sharp

Summary

VNM continued to fall sharply, causing a drop of VN-Index on Tuesday. Meanwhile, foreigners turned to sell strongly on the HSX.

Recommendation

Within some important stocks, only VNM and FPT dropped sharply because of their previous impressive increases, and the rest have traded sideways down. We believe that the current decline of VN-Index mainly reflects a correction of VNM rather than the weakness of general market. Current market correction can be halted when VNM stops falling.

Risk-seeking investors may consider gradually take position in the down sessions and quickly take profits in technical rebound. Cautious investors continue to take no position and wait for better buying opportunities.

Stock recommendations

Short-term portfolio: Cutloss TNG