6PM Call: Market Still in Accumulation Phase - Update on Pharmaceutical Industry
Skeptical sentiments dominated the market most of the day. Sometimes, the number of losers would jump to 1.5 times more than that of gainers. Not until large caps narrowed their losses did the VNIndex recover and rise above its reference line. Coupled with normal liquidity condition (total trading value stayed at VND2,960B) and lackluster foreign investors’ trading, we believe the market is still in the accumulation phase, although Q3 business results are already taking effect.
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