Market hot spot
Vietnam's stock market fell sharply again. In addition to internal factors, the overall poor external stock market had a serious impact on investor sentiment. Market confidence is fragile. Whenever there is a rebound in the session, it will be severely suppressed by selling. As of the close, the Vietnam index fell sharply by 13.90 points to 1438.94 points.
Vn30 index fell slightly by 1.55 points. Small and medium cap stocks fell continuously, with vnmid down 2.88% and vnsml down 4.09%. In our previous daily review, we have reminded that the valuations of vnmid and vnsml have been over hyped, so the recent strong adjustment is reasonable.
The market fell across the board, but I saw a glimmer of light in the darkness of the market. The fertilizer sector rebounded strongly (up 2.4%), among which DPM oil and gas fertilizer and Chemical Co., Ltd. and DCM jin'ou oil fertilizer Co., Ltd. sealed the trading limit. This reflects that when many stocks in the whole market enter the oversold area, the market may soon usher in an oversold rebound. Benefiting from the rise of world oil prices, the oil sector (up 1.8%) continued to perform strongly despite the deep correction of Vietnam index. On the contrary, the securities sector (down 6.2%), the real estate sector (down 4.7%), the construction sector (down 3.3%) and the industrial zone sector (down 4.3%) still fell sharply, and many stocks closed the limit at the same time.
The net inflow of foreign capital continued. In Ho Chi Minh market, foreign investors bought 896 billion Vietnamese Dong (about 250.2 million yuan). Since the beginning of the year, foreign capital has bought 1.244 trillion Vietnamese Dong (about 347.4 million yuan), indicating that foreign capital began to return in 2022.
Investment advice
The market continued to fall inertia. Driven by the killing force, the stock index amplified the market panic atmosphere, and the strong stocks fell by the limit in the early stage. When the Vietnam index retreated to the support level of 1430, the strength of bottom reading funds was strengthened, and the Vietnam index narrowed the decline in the late trading.
On the trend, the Vietnamese index collapsed the Vietnamese stock market due to the negative impact of the real estate industry. Due to the continuous decline of the stock index, there has been a "free landing" irrational decline in technology. In particular, there is a significant demand for technical rebound in the Japanese K-line. Vietnam construction Securities believes that this week, the stock index will have the characteristics of first restraining and then raising, that is, the tendency of exploring first and then stabilizing and rebounding in the weak market. Operation suggestions: it is suggested that investors with full positions can take advantage of the recent technical rebound opportunity to reduce their positions at high prices, and absorb at low prices again when the market contraction stabilizes; Short position radical investors can buy a small amount of oversold stocks on bargain hunting to fight for short-term opportunities; Light position investors mainly hold money and wait-and-see for the time being
