Wednesday, December 7, 2022 5:05:52 PM - Markets open
VN-INDEX 1,041.02 -7.67/-0.73%
HNX-INDEX 209.93 -2.87/-1.35%
UPCOM-INDEX 70.45 -0.57/-0.80%
Market expected to inch higher this week
Vietnam News - 4/4/2022 4:58:39 PM
 (0 ratings. You must sign in to rate.)
Many securities companies are optimistic about the stock market this week, as companies will soon release their first-quarter business statements and a support package worth VNĐ340 trillion (US$15 billion) will also be disbursed.
Last week, news about the arrest of Trịnh Văn Quyết, former CEO of FLC Group and Bamboo Airways, hit the market’s sentiment. However, the stock market still ended the choppy week on a positive note as risk appetite improved. 
On the Hồ Chí Minh Stock Exchange (HoSE), the VN-Index surged 24.29 points, or 1.63 per cent, in the last trading session to break above the psychological level of 1,500 points. Meanwhile, the HNX-Index on the Hà Nội Stock Exchange (HNX) closed last week at 454.1 points, up 4.48 points, or 1 per cent. 
For the week, the VN-Index increased by 1.2 per cent, marking its third straight weekly gain, while the HNX-Index declined 1.66 per cent. 
The market liquidity was improved, but still below the 20-week average.
On the other hand, foreign investors continued to be net buyers on the market last week after net bought a value of over VNĐ1.01 trillion.
Saigon-Hanoi Securities JSC (SHS) said that the VN-Index gained for the third consecutive week with improved liquidity, showing that cash still flew strongly into the market.
The securities firm saw that investor sentiment has been improved.
Investors are turning to the first-quarter business results and enterprises’ business plans which will be announced at the Annual General Meeting of Shareholders.
In addition, the economic stimulus package worth VNĐ340 trillion will be disbursed soon and is also attracting attention.
These two factors are expected to support the market to continue to reach new highs, the firm added. 
SHS forecasted that the market benchmark VN-Index is likely to continue gaining points to head to the next resistance area of 1,530-1,550 points.
Investors who took long positions when the market tested the support zone of 1,425-1,450 points in the session of March 14 and March 15 can continue to hold their current portfolio and consider taking profits if the market moves to the strong resistance zone, SHS recommended. 
Similarly, SSI Securities Corporation (SSI) said that after the rally in the last trading session, the benchmark is currently facing a resistance area of ​​1,515 - 1,520 points. 
As the trading volume increases and surpassed the 50-day moving average, the VN-Index is likely to break over the resistance zone and head toward the next resistance level of 1,537 points.
Meanwhile, Mirae Asset Securities Việt Nam said that earlier last week, rumours related to FLC’s former CEO had sent a shiver through the market, causing medium and small-cap stocks to face strong selling pressure with many of these stocks hitting floor prices.
The sell-off pushed the VN-Index back to 1,483 points.
Then, investors' sentiment improved, helping the index to stabilise around 1,490 points for the next three sessions before breaking out and gaining more than 24 points last Friday.
As the VN-Index surpassed the threshold of 1,500 points, it supports the short and medium-term trend to be bullish. 
If it continues to inch higher, VN-Index will meet a remarkable resistance area of ​​1,520 - 1,534 points. 
In the past week, stock groups’ performance was strongly divided.
While information technology, consumer service, consumer goods and banking sectors posted big gains in market capitalisation, energy and materials sectors lost 2.4 per cent and 1.5 per cent, respectively. VNS
Read original article here
Newer News
03/12 How to regain investors' confidence in corporate bond market: experts
29/11 Credit concerns affecting Vietnamese stocks should ease soon: VinaCapital
23/11 VN-Index struggles on persistent selling force
23/11 Securities companies adjust business results amid market downturn
15/11 Market declines but bright prospect on horizon
14/11 Lo ngại về tính thanh khoản thấp trên thị trường chứng khoán
11/11 Listed companies raise cash reserves
10/11 Investors worried as speculative stocks plummet
07/11 Shares to face downward trend on increased sell-off
07/11 Bank stocks hit by corporate bonds maturity
Older News
31/03 Government orders more measures to stabilise stock market
29/03 Cement company shares skyrocket to historic highs
21/03 Market continues to recover with VN-Index heading to 1,470 points
11/03 Pharmaceutical stocks remain attractive in 2022 on strong medicine demand
03/03 Real estate, securities markets expected to continue to grow in 2022
02/03 Large-cap recovery boosts VN-Index close to 1,500 points
28/02 Investors show sentimental value in stocks
28/02 Shares to move sideways before returning to uptrend
23/02 Tourism stocks expected to shine in 2022
15/02 Market extends losses on bank stocks, VN-Index loses nearly 30 points
Newsletter Signup
Top Stories
Banks gain big profits from forex trading
Pharmaceutical firms report positive results in Q3
Petrol prices surge in latest adjustment
Investors worried as speculative stocks plummet
Bank stocks hit by corporate bonds maturity
Market Update
Last updated at 3:05:04 PM
VN-INDEX 1,041.02 -7.67/-0.73%
Real-time chart
Top 5 Actives
Top 5 Gainers
Top 5 Losers
My Favorite Quotes
Your most recently viewed tickers will automatically show up here if you type a ticker in the Get Quotes box on the top of the page.
Company Research
Type in the symbol above for thorough background information, key statistics and financial information.
Stock Sectors
We continuously improve our services, here are the latest updates...
Allow you to monitor a customised group of securities. You can set up multiple Portfolios to help you better manage your investments.
Trigger Alerts
Get up-to-date alerts delivered directly to your email address.
Stock Screener
Allow you to filter the market and find exactly what sort of company you are looking for.
Live Terminal
Get instant access to FREE REAL-TIME streaming quotes for hundreds of stocks from HOSE, HNX and UPCOM exchanges.