Tuesday, October 15, 2024 1:32:02 PM - Markets open
VN-INDEX 1,287.75 +1.41/+0.11%
HNX-INDEX 229.58 -1.14/-0.49%
UPCOM-INDEX 92.26 -0.12/-0.14%
Investors await more positive stock market: experts
vietnamnews - 9/9/2024 8:39:08 AM
 (0 ratings. You must sign in to rate.)
Analysts suggest that at the present, upholding a prudent cash ratio can assist investors in reducing risks and seizing opportunities in times of favourable market dynamics
 
 
An investor observes the market's movements on a computer screen. — VNA/VNS Photo
 
The stock market saw a weekly loss in the shortened trading week, with funds concentrating on selected stock groups while others experienced significant trading sessions.
 
Analysts suggest that at the present, upholding a prudent cash ratio can assist investors in reducing risks and seizing opportunities in times of favourable market dynamics.
 
Last week, the domestic stock market reopened on Wednesday after a long national holiday and had only three trading days.
 
Although the market witnessed a recovery in the final trading session, partially alleviating the VN-Index's decline, overall market sentiment has yet to fully recover.
 
The VN-Index on the Hồ Chí Minh Stock Exchange (HoSE) closed Friday at 1,273.96 points, while the HNX-Index on the Hà Nội Stock Exchange (HNX) was last traded at 234.65 points.
 
For the week, both the benchmark indices posted weekly losses, down 0.77 per cent and 1.2 per cent, respectively.
 
Market developments showed a pronounced struggle between sellers and buyers, reflecting apprehension due to the unclear market trend.
 
Liquidity on both exchanges notably dwindled last week compared to the preceding week, with trading volumes plummeting by 44 per cent on HoSE and 42.5 per cent on HNX.
 
Foreign investors also persisted in their robust selling streak, amounting to over VNĐ1.2 trillion (US$49.4 million).
 
BETA Securities Incorporation expected that the market is poised to undergo a period of correction and tug-of-war in the near future. This is a critical period for investors to carefully consider stock accumulation.
 
Maintaining an optimal cash reserve will not only mitigate risks for investors but also position them to seize opportunities in a more favourable market environment, the firm added.
 
Meanwhile, the current global economic background remains turbulent, with market expectations particularly focused on the upcoming interest rate decision by the US Federal Reserve.
 
Domestically, core inflation rose by 0.24 per cent in August from the previous month and 2.53 per cent from a year earlier, a report from the General Statistics Office showed.
 
Over the first eight months of the year, core inflation increased by 2.71 per cent year-on-year, lower than the overall CPI rise of 4.04 per cent, mainly due to excluded items like food, electricity, education, healthcare and fuel impacting the CPI.
 
Saigon - Hanoi Securities SJC (SHS) advises that the short-term trajectory of the VN-Index is expected to maintain growth around the closest support level near 1,270 points, with stronger support between 1,250 and 1,260 points.
 
The market is displaying a solid recovery and notable differentiation at this price range.
 
The securities firm considers this to be a fairly rational price zone concerning market growth potential, potentially opening up numerous strategic accumulation opportunities based on corporate growth expectations and the third quarter business performance.
 
Given the current developments, the VN-Index is projected to continue striving towards the 1,280-point mark, while the VN30-Index is likely to undergo reassessment around 1,325 points this week.
 
In a bullish scenario, the market benchmark is anticipated to consolidate within the range of 1,280-1,300 points.
 
Nonetheless, market adjustments towards the 1,250 - 1,260 point range, representing the highest price levels in 2023, could still weigh on the market.
 
According to Dragon Capital Securities Company (VDSC), a decrease in liquidity last week signals a cooling off in the supply as the market nears the support range of 1,255-1,260 points.
 
A resurgence signal above the 1,270-point mark could potentially drive a recovery in the near term. The market is anticipated to retest the supply levels in the 1,280-1,290 point range.
 
"Investors may expect a short-term market rebound and are advised to prioritise stocks experiencing stable performance and recent capital attraction. However, a cautious approach is recommended to evaluate the recovery pace for short-term profit-taking or portfolio adjustment to mitigate risks," VDSC suggests.
 
In fact, the domestic stock market scenario appears subdued due to the absence of robust support information. Moreover, the global stock markets are on a downward trajectory, further contributing to a challenging environment for the local. — VNS
 
Read original article here
Newer News
14/10 Corporate bond issuance drops by 60% in Sept
14/10 Stock market sees notable recovery amid ongoing uncertainties
11/10 Market extends rally as foreign bloc boosts net buying
10/10 VN-Index breaks above 1,280 points
09/10 Market sees slight recovery as liquidity improves
08/10 Deadline extended for updating national IDs in securities trading
07/10 Stock market seeks opportunities amid turbulent corrections: experts
05/10 VPS dominates brokerage market share on HNX and UPCoM in Q3
05/10 Market ends the week with third consecutive decline
04/10 Market continues losing streak as liquidity hits eight-week high
Older News
05/09 Market kicks off September on a negative note
05/09 Listed firms suffer huge currency losses in H1
04/09 Experts predict fluctuations in VN-Index
31/08 Market ends August with slight gains
30/08 Stay aware against online securities investment scams: SSC
29/08 Market inches up slightly as foreign investors continue net selling
29/08 Electricity stocks struggle on rising material costs
27/08 Proposal to enhance regulation of market manipulation in stocks
26/08 Market expected to pass psychological 1,300 mark
23/08 Boost investor risk tolerance in corporate bonds: experts
 
Newsletter Signup
Top Stories
VCCI recommends mineral mining rights be granted through auction and bidding
Central bank works to raise interbank rates and ease forex market
Inflation a concern following salary increases
National Council for Sustainable Development established
Việt Nam, Cambodia look forward to $20 billion trade
Market Update
Last updated at 1:25:01 PM
VN-INDEX 1,287.75 +1.41/+0.11%
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...
Portfolio
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.