BSC - Vietnam Daily Monitor 2015.12.04 - VN-Index to retest the 570 point support

Summary

Vietnam market traded in red on Friday, so market breadth was negative again. Foreign investors continued selling on the HSX. Notably, Oil & Gas outperformed the market.

Recommendation

Current movement of market has no more differences than our expectation. Selling pressure from foreigners may likely continue increasing in the future as the FOMC meeting is approaching.

Short-term investors should take advantage of technical recovery to reduce stock proportion. Medium and long term investors might consider buying fundamental shares in the declining sessions.