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VCSC Daily - Stock retreated as foreigners extend sell-off - CPI - Sabeco, VNM

The main bourse retreated 1.6% on the back of an escalating foreign sell-off. This may be attributed to the ongoing investment outflows from emerging and frontier markets globally, including ASEAN, following the presidential election in the USA. Our technical analysis shows that the index is tipping to an oversold area though. We see strong support of the VN-Index at 655, formed by the MA150.