The long momentum weakened and the Vietnam index fluctuated at a high level
Market hot spot
Yesterday, the market rose sharply at the end of the day, which helped the Vietnam index open slightly higher today. However, the recent sharp fluctuations in foreign markets have made investors cautious. The turnover of Ho Chi Minh market reached only 23 trillion Vietnamese Dong, the lowest single day turnover in nearly a month. The market trading volume began to shrink, some funds chose to withdraw in the late trading, and the market plunged rapidly. As of the close, the Vietnam index fell 3.14 points to 1482.05.
Among the 21 plates, only 8 plates fell, while the other plates continued to rise, but the increase was generally weak. The construction (up 1.4%) and real estate (up 1.3%) sectors continued to rise. The steel sector (down 0.9%) continued to weaken. Securities companies (down 0.6%) adjusted weakly. According to the data of fiinpro, the current valuation of the securities sector is the highest since 2013, with PE and Pb 19.8 and 3.5 times respectively.
In Ho Chi Minh market, the net sales of foreign capital exceeded 740 billion Vietnamese Dong (about 207.46 million yuan). According to statistics, by the end of November 2021, the total net sales of foreign capital exceeded 55 trillion Vietnamese Dong (about 15.42 billion yuan), which is the highest year since 2006.
Investment advice
At present, the market direction is not clear, long and short are on the sidelines, the market trading sentiment is in a depressed state, and the Vietnam index chooses horizontal shock consolidation. We believe that it is difficult for the market to change the shock trend without obvious changes in trading volume.
The recent market is still fluctuating in the horizontal market, and the trend of strong stocks is still wonderful. However, at present, the market has entered a high level after all, and the risk is greater than the opportunity. It is suggested that investors should wait and see.
