Weekly Market Wrap April 6 2020

Yuanta Vietnam Weekly Market Round-Up-April 6

The market finally exited its freefall with all three indices posting small gains during the week ending April 3. Breadth improved substantially, with 193 losers vs 168 gainers during the week. However, foreign investors remain net sellers and turnover declined (-25% from the prior week). This suggests that the risks remain to the downside, in our view, as risk appetites are not likely to recover in the short term given the ongoing global crisis. We thus continue to recommend a focus on quality.