Monthly April 2012 - Focus to shift from policies to earnings in May
  • 2012-05-02T00:00:00
  • Macroeconomics
STRATEGY Positive sentiment from accommodating policies spearheaded in April and their actual lagging effect, especially from measures aimed at lowering lending rates will provide some support to the market in May. However, while long-term bullish trends are still intact on both markets, the latest attempt at month end to pierce strong resistances – VNI at 475 and HNI at 80 – marks the second failed attempt in two weeks and fourth in the last 12 months; watch for a correction/consolidation to 46