Market hot spot
On the first trading day of the year of the tiger, Vietnam’s stock market got off to a good start, which seems to be a good omen. On the one hand, it is auspicious to open the door. On the other hand, it is also a continuation of the trend of the last trading day before the year. In early trading, the Vietnamese index jumped higher than the integer mark of more than 20 points and close to 1500 points. However, the market has not seen a large volume for a long time, the selling pressure has increased in the afternoon, and the market has fallen slightly. As of the close, the Vietnam index rose 18.70 points to 1497.66 points.
On the first trading day after the Spring Festival, all funds are still mainly on the sidelines. The turnover of Ho Chi Minh market only exceeded 18 trillion Vietnamese Dong (about 5.03 billion yuan), down 35% from the average daily turnover in January. The upward height of the short-term market is limited, and it will take time to warm up.
The market rose across the board, with only the insurance sector falling slightly by 0.4%. A total of 382 stocks in Ho Chi Minh market closed up (65 stocks rose by the limit), 32 stocks closed flat, and only 91 stocks closed down (4 stocks fell by the limit). Among them, the aviation sector (up 5.9%), the chemical fertilizer sector (up 5.5%), the oil sector (up 5.2%) and the steel sector (up 5%) all rose sharply.
We remain optimistic about the aviation sector for the following reasons: 1 Aviation stocks have been in the bottom area, forming a long-term horizontal platform; 2. After the opening of tourism outside China, the tourism industry is expected to recover in an all-round way. The oil and gas sector will continue to rise and further support the global oil and gas sector.
The net purchase amount of foreign capital in Ho Chi Minh market exceeded 304 billion Vietnamese Dong (about 85.13 million yuan), which is also the fifth consecutive trading day of net inflow of foreign capital. VHM vinhome Co., Ltd. and KBC Jingbei development city Co., Ltd. are the stocks with the largest net purchases by foreign investors, with net purchases of 193.4 billion Vietnamese Dong (about 54.1 million yuan) and 148.1 billion Vietnamese Dong (about 41.5 million yuan) respectively.
Investment advice
This morning, the Vietnam index jumped high, the post holiday red envelope effect was obvious, and the market showed a general upward pattern. However, at the end of the trading, some real estate stocks suddenly poured out a large number of selling, especially the shares of VIC vingroup group fell 6%, and dig blocked the limit. The market trading volume is still sluggish, investors are uncertain about the future trend, and the short-term choice of funds is to wait and see.
The launch of large cap stocks pushed the market to continue to rebound, including airlines: VJC Vietnam Airlines Co., Ltd. (up 6.97%), HVN Vietnam Airlines Corporation (up 7%); Oil and gas: gas – Vietnam Natural Gas Corporation (up 5.2%), PLX – Vietnam national gasoline Group Co., Ltd. (up 4.6%); Food and beverage: MSN Masan group (up 3.4%), SAB Saigon beer alcohol beverage Co., Ltd. (up 2.3%); Bank: VCB – Vietnam Foreign Trade Commercial Bank (up 3.8%); Real estate: VHM vinhomes group (up 2.37%). From a technical point of view, although the rebound range of Yuezhi is gratifying, the amount of energy is worrying. In order to maintain the relative strength of the index, the trading volume needs to be continuously enlarged. Obviously, if the short-term trading volume fails to rise, the rise and fall will probably occur. At present, 1580-1521 is still a strong resistance level. We need to observe the reaction of the market in this resistance area in order to judge the market trend. Therefore, at this stage, investors should continue to be cautious and make tentative purchases with light positions for promising individual stocks.
