Market hot spot
Following yesterday's sharp rise and led by banks, securities and other sectors, the Vietnamese market continued to open higher in the morning. Unfortunately, the sudden increase in profit taking led to the downward shock of the Vietnam index. This is a good opportunity for investors to increase their positions and buy. After that, the real estate, retail, chemical fertilizer and other sectors made collective efforts, and the market quickly stopped falling and rebounded. Liquidity has become the focus of recent trading days. Although the share price has fallen to a very low level, funds have not yet entered the market to create a positive signal for the market. Today is no exception. Even the increase at the end of the session narrowed, and the trading volume decreased slightly compared with yesterday. As of the close, the Vietnam index rose 12.39 points (or 1.01%) to 124076 points, with a turnover of 138261 trillion Vietnamese Dong.
In the tail market, the rise narrowed, with 17 of the 21 sectors rising actively. After several days of sharp decline, the chemical fertilizer sector led the rise of 4.8%, the chemical sector also rose by 2.9%, and the retail and steel sector rebounded well, with an increase of 2.4%. In addition, the banking sector rose 1.7% and the securities sector rose 1.7%.
Contrary to yesterday, foreign investment turned to net buying today. The total net purchases on Ho Chi Minh exchange amounted to vnd 171.57 billion, mainly concentrated in gas Vietnam Gas Corporation (net purchases of vnd 57 billion ≈ 16.64 million), vnm Vietnam milk Corporation (net purchases of vnd 43 billion ≈ 12.56 million), KBC Jingbei City Development Corporation (net purchases of vnd 37 billion ≈ 10.8 million) VHC - Vietnam yonghuan Co., Ltd. (net purchase of vnd 37 billion ≈ RMB 10.8 million). The selling is mainly concentrated in SSI - SSI Securities Co., Ltd. (net sales of 129 billion vnd ≈ 37.7 million yuan) and NLG - Nanlong Investment Co., Ltd. (net sales of 29 billion vnd ≈ 8.5 million yuan).
Investment advice
Vietnam index achieved two consecutive positives and continued to maintain an upward trend. Among them, securities, real estate, banking and other sectors are favored by funds, while the retail and chemical fertilizer sectors perform best. Today, many stocks have made a collective counterattack. As yesterday, liquidity continued to be worrying. Despite the strong rise of Vietnam index, investors' cautious sentiment kept liquidity at a low level. Moreover, tomorrow is the maturity date of derivatives, and the market is expected to fluctuate sharply tomorrow, so investors are more cautious.
From a technical point of view, despite the good performance in the past two trading days, the market failed to confirm the upward trend due to the lack of liquidity support. However, according to CSI's observation, the bottom reading force has begun to pour in, so we expect that the Vietnam index will be more likely to continue to rise, and that rebound is expected to pull the Vietnam index close to the resistance level of 1300 points. Some stocks that rose strongly today include: HDG - Hedu Group Co., Ltd; VCI - Benyue Securities Co., Ltd; VGC - viglacera AG, etc
