A chance to accumulate for 2017 as the market corrects
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“Stocks on both the HSX and HNX suffered in October as enthusiasm faded and the market went through a correction phase. The gains of BHN, FLC, and ROS were exceptional since most stocks either went sideways or lost a little bit during the month. In fact, without the support from ROS, the VNIndex would not have possibly closed only 1.4% lower in October. Liquidity dwindled at the same rate that confidence deteriorated; the combined daily volume on the two exchanges dropped 5.2% on average as compared to that recorded in September to just 150 million shares a day. Acting as opportunistic buyers, foreigners were more active during down days and accumulated a net VND122 billion, mostly in HPG and VNM. There was little improvement in the sentiment in the first few days of November as the trading remained slow and cash flows were hardly seen among large-caps.
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