20160129_BSC_Vietnam Daily Review_EN_Week ahead-Challenging at a new level

Summary

End of January, the VN-Index successfully conquered 545 points which has been suggested in the Vietnam Macro & Market 2016 Outlook report. Oil stocks rallied with rising oil prices, hence the market sentiment has improved accordingly. Foreigners were net sellers on the HSX and HNX, while bought marginally on UPCOM.

Recommendation

The next phase might be an accumulation or a better stage for indices. The market will gradually absorb the impact from the loosening monetary policy of, or the rumour on the easing monetary of ECB in March. Also, the current recovery of oil price is a certain supporting point for the market in the upcoming sessions. Risk-seeking investors may continue to buy in down sessions and quickly take profits in up sessions.