The market rebound slowed down and the capital attitude was cautious
Market hot spot
Today, the Vietnam index continued to rebound, but the trading volume continued to shrink. After the market rebounded and slowed down, most stocks rose and fell, the fund wait-and-see mood was strong, and the trading strength decreased significantly. As of the close, the Vietnam index rose 6.1 points to 1452.87.
Of the 21 sectors, 13 rose. After the steel sector rose strongly yesterday, it adjusted today (down 0.8%). China's steel prices fell sharply due to the impact of world steel prices, and the steel sector faced difficulties in the short term. According to our observation, China's steel prices have fallen sharply by 400000 Vietnamese Dong / ton recently, equivalent to a reduction of 2-3%.
Industrial zones (up 2.1%), oil and gas (up 1.6%) and bank stocks (up 1.5%) collectively strengthened. We still highly value the industrial zone sector because (1) FDI funds are expected to flow into Vietnam after the covid epidemic is controlled; (2) the valuation of industrial zone stocks is still low. The turnover of Ho Chi Minh market reached vnd 21.611 trillion (about 5.98 billion yuan), the trading volume was basically flat compared with yesterday, far lower than the previous level.
Today, foreign capital turned to net outflow, and the total net sales in Ho Chi Minh market exceeded 117 billion Vietnamese Dong (about 32.38 million yuan). Recently, it was observed that foreign capital continued to net buy the concept stocks of vingroup group group, including Vic vingroup group group, VHM vinhomes Co., Ltd. and vrevincomretai Co., Ltd.
We believe that foreign investors are optimistic about vinfast's application for IPO in the United States by the end of 2022.
Investment advice
Vietnam index has been positive for two consecutive years, but the rebound can be significantly weakened. The market is facing greater technical pressure, and bulls have no intention to catch up.
Technically, it refers to the upper 20 day line 30 day line (1464-1471 points area) is under pressure. In the process of rebound, it is necessary to supplement the volume energy in time when encountering the pressure of technical structure, otherwise it is easy to reduce the volume, rebound and kill the volume. If the volume exceeds the above resistance level, the Vietnam index is more likely to return to the rising channel. If the volume fails to break through the resistance level, it is necessary to be vigilant against the rise and fall of the market and step back on 1375-1380 points to seek support Hold on.
Stocks with strong gains today include CTD cotecons Construction Co., Ltd., TPB pioneer commercial bank and frt-fpt digital technology retail Co., Ltd.
