Investment Strategy Report - JulyÂÂÂÂÂÂ 2017: 1H2017 Earning Release Season
Expecting on the Directive 24/CT-TTg and the Bad Debt Resolution, the Vietnam stock market continued to conquer new high as VNindex closed at 776.47 (+5.2%) and HNindex reached 99.14 (+5.6%) approaching the end of-June. As the market continued to advance, it is not surprised that both buyers and sellers start becoming more risk adverse. As a result, market liquidity decreased to VND 3,563 bil (-19.1% MoM). Despite cautious action of domestic investors, foreign investors’ sentiment remained positive shown by the 6 month-accumulated net bought value of VND 9,200 bil. Foreign participants included not only institutional and retail investors but the ETF as well. So, Vietnam stock market has witnessed a return of off shore money in 1H2017 after a net withdrawal a year before.
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