Market hot spot
Following yesterday's selling pressure, the Vietnam index opened slightly lower at 7.63 points in the morning, making the Vietnam index step back on the important support level of 11601170 points. At this juncture, the bottom reading forces entered one after another, which helped the Vietnam index stop falling and recover, and the leading Allegro collective rebound of oil, gas and securities. It is worth noting that in the afternoon, "the New York Stock Exchange cooperated with Vietnam on the plan to help the Vietnamese market upgrade to an emerging market". This information helped the Vietnamese market push up steadily. As of the closing on May 17, the Vietnam index rose 56.42 points (or 4.81%) to 122837 points, with a turnover of 142841 trillion Vietnamese Dong. All 21 sectors rose. The sectors with the largest increase include oil and gas (up 8.3%), securities (up 7.4%), retail (up 7.1%), chemical fertilizer (up 7%), construction (up 7%), etc. In terms of individual stocks, 425 stocks in Ho Chi Minh market rose, 22 remained at yesterday's closing level and 58 fell, of which 151 rose by the limit and only 3 fell by the limit, indicating that although the trading volume is low, the selling pressure has weakened, and many investors began to enter. After the good news came out, investors are willing to increase their shareholding ratio at a higher price.
Net inflow of foreign capital in the morning, but it began to turn to net selling in the afternoon. At the close of the day, foreign investors sold a net vnd 27.76 billion, mainly concentrated in HPG - Hefa group (net sales of vnd 173.12 billion ≈ 50.55 million yuan); SSI - SSI Securities Co., Ltd. (net sales of 162.43 billion vnd ≈ 47.43 million yuan); SBT - Vietnam Chenggong - Bianhe Co., Ltd. (net sales of 140.46 billion vnd ≈ 41.01 million yuan). The buying was concentrated in CTG - Industrial and Commercial Bank of Vietnam (net purchase of 71.7 billion Vietnamese Dong ≈ 20.94 million yuan); Vnm - Vietnam dairy products Co., Ltd. (60.66 billion vnd ≈ 17.71 million yuan); GMD - gemadept Co., Ltd. (net purchase of 53.22 billion vnd ≈ 15.54 million yuan). HPG continues to be the focus of foreign investment. In the past five trading days, foreign investors have sold nearly 400 billion Vietnamese Dong (about 167.9 million yuan) of the shares.
Investment advice
Vietnam's stock market rebounded strongly in the afternoon after the news that "Vietnam will be upgraded to an emerging market with the support of the New York Stock Exchange (NYSE)". A series of stocks in various sectors broke through the rebound and sealed the trading limit, pushing the Vietnam index to close at the highest price of the day.
After being hit hard for many days, investor sentiment gradually rose. Despite the sharp rise of the index, the trading volume has not kept up, indicating that investors still doubt the rebound trend of the market.
From a technical point of view, today's strong rebound is a positive signal. The Vietnam index easily broke through the support level of 1200 points and closed above this level. However, today's rise has not confirmed the upward trend, but CSI believes that the Vietnam index is likely to rebound to the support area of 13151325. Therefore, we suggest investors to choose the opportunity to increase their positions, especially the stocks that have rebounded strongly recently, such as SSI - SSI Securities Co., Ltd., vnd - vndirect Securities Co., Ltd., SHS Saigon Hanoi Securities Co., Ltd., HCM - Ho Chi Minh City Securities Co., Ltd; STB - Saigon Shangxin joint stock commercial bank, TCB - Vietnam technology and business joint stock commercial bank, MBB - Vietnam military joint stock commercial bank, VPB - Vietnam prosperity joint stock commercial bank and other bank stocks and real estate stocks, including dig - Construction Development Investment Co., Ltd., CII - Ho Chi Minh City Infrastructure Investment Co., Ltd., gvR - Vietnam Rubber Industry Co., Ltd
