It takes time to switch between high and low funds, and the banking sector is “pivotal”
Market hot spot
Today, the Vietnam index has a volatile rebound. Compared with yesterday’s sharp rebound, its operation still shows twists and turns, indicating that there are differences between long and short, and the capital operation tends to be cautious. As of the close, the Vietnam index rose slightly by 2 points to 1481.58.
In the morning, the turnover was relatively stable, more than 14 trillion Vietnamese Dong (about 3.91 billion yuan), but the trading mood cooled slightly in the afternoon. Therefore, the turnover of Ho Chi Minh market was only 23.502 trillion Vietnamese Dong (about 6.57 billion yuan).
Although the index closed higher, 12 of the 21 sectors fell. Among them, many sectors fell significantly, such as construction sector (down 2.6%), steel sector (down 1.5%) and industrial zone sector (down 0.8%). Although the construction sector is recognized as one of the investment hotspots in 2022, it has pulled up too fast before, so the short-term adjustment is also reasonable.
On the contrary, the banking sector (up 1.4%) has experienced a correction for several months, and the valuation correction is relatively sufficient, so some funds are optimistic about the investment value of the banking sector again. The retail sector (up 2.8%) rebounded, mainly due to dgw Digital World Co., Ltd. (up 6.9%), which rebounded strongly due to Xiaomi’s establishment of a second distributor in Vietnam.
After the net purchase of more than 1.2 trillion Vietnamese Dong (about 3352.9 million yuan) by foreign investors yesterday, they continued to buy nearly 320 billion Vietnamese Dong (about 89.41 million yuan) today. The market entry and position building of Taiwan jihsun fund further promoted the inflow of foreign capital into the stock market. The stocks with the largest net purchases by foreign investors include CTG Vietnam Foreign Trade Joint Stock Commercial Bank (net purchase of 211 billion vnd ≈ 58.95 million yuan), LPB lianyue post joint stock commercial bank (net purchase of 118 billion vnd ≈ 32.97 million yuan), and STB Saigon Shangxin joint stock commercial bank (net purchase of 48 billion vnd ≈ 13.41 million yuan).
Investment advice
Vietnam index rebounded two consecutive positive, but the increase was significantly weaker than yesterday. At present, the trend of market contraction and rebound is still weak, which can not boost the market’s long popularity. The sustainability needs to be seen while walking.
Under the background of the continuous shock and bottoming of the disk, the banking sector shows an upward trend. At the same time, it also shows that under the current background of weak market sentiment, heavyweights represented by banks play a “pivotal” role in driving sentiment. At present, 1495-1507 resistance level is still the biggest short-term challenge of Vietnam index. It is expected that the market will remain volatile before the festival, focusing on whether the volume can be released after the festival, and then making investment decisions.
Today’s noteworthy stocks include: BMP pingming Plastic Co., Ltd., PLX Vietnam Petroleum Group, LPB lianyue Post Co., Ltd
