Profit-taking caused a sell-off after the index surpassed 780, but large-caps and banks helped the market recover for a modest monthly gain. June’s rally extended to the first week of July with the VN-Index breaching 780 to reach a nine-year high. However, profit-taking in the face of a technical resistance level took 16 points or 2.1% off the index in just two trading sessions (July 6 and 10). SBV rate cuts restored positive sentiment for a few days, but it did not last and the pullback