The local markets lost ground yesterday but the positive things are that we were off the lows and trading turnover improved. The threshold 450 now becomes sensitive and the fighting at this point is expected.
Sai Gon Securities (SSI): Market Likely to Test 448-451 Again
SSI thinks the market is likely to retest 448-451 once more today. If the demand increases significantly, we can hope for more positive market next week. The broker advises investors to consider buying into the dips.
Thang Long Securities (TLS): No Positive Signals Seen
TLS says “Positive signals for the market have not been seen in our technical models”, recommending “institutional investors can consider buying while daily investors should hold their positions.”
Ho Chi Minh City Securities (HSC): Medium To Long Term Investors Can Safely Buy
HSC says “Our market view is unchanged and we think medium to long term investors can safely buy at current levels. We would argue that once we get into October, the C13 story will be behind us and we also expect that October CPI will show a reversion to a more gradual acceleration in inflation. Therefore the market may well move somewhat higher. But at the same time we are also coming into the peak season for the issuance of new market share supply so any upside is firmly capped in our view.”
SBS Securities (SBS): Focus on Fundamental
SBS points out that 30% of the stocks still buck the market downtrend, recommending investors to cash in moderately, focusing on fundamentals rather than hot stocks. For medium to long term, the broker is still bearish.
Au Viet Securities (AVS): Further Sideways Trending Down
AVS thinks the market will continue to move sideways in the coming sessions and the market trend will be clearer after the news on Sept CPI and Circular 13 comes out.
VNDirect (VND): Either Way from 450
VND thinks the market will move either way from the sensitive point 450. The negative news of increasing USD interest rates and tension on CAR improvement are major concerns.
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