VN-Index had its second consecutive session of decline with liquidity increasing slightly, but there was still no explosion, as the matched volume on HSX was equivalent to the 20-session average.
Foreign investors still maintained a strong net selling status of hundreds of billions of VND and suddenly transactions increased sharply in yesterday's session (September 5), due to the contribution of the MBB stock agreement.
Yesterday's decline mainly increased in the afternoon session, while most of the previous period maintained a fairly good green color. Selling pressure clearly tends to increase, but because liquidity has not exploded, the previously formed uptrend has not been broken.
It can be seen that investor sentiment is more negative due to the influence of the US market, including negative employment data and the weakening of the technology group (NASDAQ 100). This increases the risk of recession in this market, indirectly affecting the VN-Index.
Dr. Nguyen Duy Phuong, Investment Director of DG Capital, commented that currently, it is a time of information depression, so the state of tug-of-war, narrow fluctuations with low liquidity will likely recur after the holiday.
This development may last in September, not excluding the downward trend due to the difficulty in short-term surfing activities in the past time, which will weaken the short-term cash flow into the market.
In addition, the domestic market trend will also be affected by the general trend of the world stock market. In addition, differentiation will occur according to the forecast of the third quarter business results of each enterprise and industry group.
However, there are also opinions that this correction is only short-term. The market still has many factors supporting the goal of conquering the 1,300 point mark.
Firstly, lowering interest rates to boost growth is one of the priority options, which can also be considered a catalyst for better growth prospects for listed companies' revenue. The upward trend of the stock market has become clearer.
Second, large-cap stocks have had a good rebound since the market bottomed out at 1,200-1,220 points. Large-cap stocks in growth sectors such as telecommunications technology or leading stocks in utilities, banking, securities, retail, and consumer goods have made impressive recoveries. If these groups do not increase in price, it is difficult to say that the market will soon return to its old peak and surpass it.
Experts from VCBS Securities Company recommend that although the market continues to experience corrections, the pressure is not too great and demand still exists.
Investors should stay calm during this period, continue to maintain the current stock and portfolio ratio, closely monitor market developments, and wait for clearer signals to be able to disburse to buy stocks at good discount prices during volatile sessions.
SHS Securities Company believes that the VN-Index at the price range of 1,250-1,255 points is relatively reasonable for the market's growth prospects; this is also strong technical support when the average price ranges are converging. The market may strongly differentiate in this price range based on the expectation of growth in business results in the third quarter of 2024, recovering to maintain a positive medium-term accumulation trend.
