Vietnamese investors have a serious reluctance to sell, and the market has shrunk and rebounded continuously
Market hot spot
In early trading, the Vietnam index fluctuated around yesterday's closing price and began to rise slowly in the afternoon. Similar to the previous two trading days, the fund wait-and-see mood is still strong, retail investors are generally reluctant to sell, but people who enter the market late want to earn more, forcing new funds to buy high-priced chips. At the same time, the temporary retreat of the panic about the new variant of covid and the recent recovery of the global market all contributed to the cross index rebound. As of the close, the Vietnam index rose 15.11 points to 1467.98.
Funds turned to small and medium-sized stocks. Vnmid and vnsml rose 1.7% and 1.3% respectively, while vn30 rose slightly by 0.9%.
The market rose across the board, with only the insurance sector (down 0.4%). Brokerage stocks (up 2.9%) led the gains, while retail (up 2.8%) and construction (up 2.6%) collectively strengthened. We still highly value the performance prospect of the construction sector next year, as (1) the recovery of construction demand after covid epidemic,
(2) Infrastructure projects will benefit from public investment. At the same time, the reduction of steel prices is good for the sector.
In Ho Chi Minh market, foreign capital turned to net inflow, The total net purchase amount is nearly 350 billion Vietnamese Dong (about 96.99 million yuan), and the purchase is concentrated in the concept stocks of "VIN" group. Specifically, the total net purchase amount of vicvingroup group group is 91.8 billion Vietnamese Dong (about 25.36 million yuan), and vhmvinhome group is 46.6 billion Vietnamese Dong (about 12.87 million yuan). The continuous influx of foreign funds promotes the continuous strength of concept stocks of "VIN" group in the near future.
Investment advice
The Vietnam index has achieved three consecutive positives, and the Vietnam index has rebounded to the expected resistance level of 1464-1471.
The unanimous optimism about Vietnam's economy next year has exacerbated the market's reluctance to sell, and its turnover has reached the lowest level in nearly two months. The continuous contraction and rise of Yuezhi makes market professionals worry that the future market is difficult to sustain. Therefore, Vietnam construction Securities Co., Ltd. maintains its original view and suggests investors to wait outside the market and patiently wait for a clearer signal from the market.
Tomorrow, the Vietnam index may further explore the resistance level of 1471 points, and investors are advised to consider reducing positions at high prices. We believe that the higher the index, the greater the probability will step back on the support level of 1375-1380 points. Stocks with strong gains today include DGC Dejiang Chemical Group Co., Ltd. and HNG Huangying Calais International Agriculture Co., Ltd.
