The bull market in the year of the ox has come to a perfect end, and tiger year old tiger Wei looks forward to fighting again
Market hot spot
On the last trading day before the festival, the morning trading index fluctuated more narrowly, and the market trading was light. In the afternoon, there was a sudden change of funds in the venue. Those optimistic about the rebound after the festival did more and rushed to raise funds. The market was active as a whole and local sectors surged.
As of Friday, the Vietnam index rose 6.07 points (or 0.41%) to 1478.96 points. The average daily turnover of Ho Chi Minh market reached 21.550 trillion Vietnamese Dong (about 6.06 billion yuan), down 5.54% from last week. The Hanoi index fell 1.11 points (or 0.27%) to 416.73.
Although the Vietnam index closed higher this week, 15 of the 21 sectors fell. Many sectors fell sharply, among which construction (down 10%) fell fiercely; Then followed by steel (down 6.4%), aquatic products (down 6.4%), oil and gas (down 5.9%) and Chemistry (down 5.7%). The main reasons are that the operating performance of the steel and construction sector in the fourth quarter is not optimistic, and the market is too pessimistic about the expectation of the chemical sector next year. The sectors whose valuations have been excessively inflated have entered the adjustment period, but the growth prospect in 2022 is still “bright”, which will regain momentum after the valuation is revised. This week, the sectors supporting the market rebound were retail (up 6%), banking (up 3.2%) and insurance (up 2.3%).
In the Ho Chi Minh market, foreign capital showed a net inflow trend for four consecutive trading days. The total net purchase this week reached 1864 trillion Vietnamese Dong (about 5237.4 million yuan), the highest level since early August. Buying mainly focused on CTG Vietnam Industrial And Commercial Bank Of China Limited(601398) (net purchase of 442 billion vnd ≈ 124.19 million yuan), STB Saigon Commercial Bank (net purchase of 312 billion vnd ≈ 87.67 million yuan), and LPB Vietnam post office commercial bank (net purchase of 235 billion vnd ≈ 66.03 million people’s dollars).
Investment advice
Vietnam index rebounded in the afternoon, giving investors small red envelopes before the festival. Retail accounts have returned to the blood, making the losses after continuous sharp falls look less miserable. In the past two trading days, the trading volume has shrunk rapidly, and the market has been filled with a festive atmosphere in advance. The main force has been put into the warehouse, Ma fangnanshan, and there is no love war in the long and short. After the festival, the capital returned and the market probably stabilized and rebounded. Most investors choose to hold shares before the festival and actively participate in the rebound after the festival. The year of the ox is drawing to a close, with peach blossoms in full bloom and a strong sense of spring. Thank you for your trust and support to CSI in the past time. All staff of Vietnam construction securities wish you and your family a healthy new year.
