BSC - Sector Outlook - Q3 2015

We believed that “2015 will not be easy on the stock market…”, as stock market witnessed many increase movements in the first quarter but then these exact stocks fell sharply in the second quarter due to macroeconomic factors, business results and investors’ behavior. In the 2015 Outlook Sector Report, we believed that Banking would be the leading VNIndex sector and in fact, it was. 04 recommended Banking stocks achieved an average growth rate of 48,52% in 6 months, including VCB with an increase of 56,41% and replaced GAS as the biggest market capital stock. Among the recommended stocks, several stocks achieved 50% growth rate as compared to the closing price on 31/12/2014, namely VCB, BID, DXG and CMG. Moreover, the majority of stocks with over 20% growth rate were in Banking, Real Estate, Construction, Cement and Technology sectors, which we assumed Positive rating at the beginning of the year. Neutral or Negative rating sectors Stocks mostly under performed Indexes, only a few stocks in Sugar sector bounced back in the second quarter.