While domestic demand is active - helping the stock market regain balance, foreign investors are still net sellers. In yesterday's trading session on March 20, foreign investors sold nearly VND1,500 billion, with a fairly diverse portfolio.
The highlight is still FPT shares. Although foreign investors have "cooled down", FPT shares continue to lead the strong net selling portfolio with a value of VND 279.5 billion, equivalent to a net selling volume of VND 2.23 million.
Investors still have the view that cautious sentiment will continue to dominate in the coming trading sessions when liquidity is showing signs of stagnation in the last 4 consecutive sessions, so the possibility of a breakthrough cannot be achieved quickly and immediately.
It is likely that the VN-Index will enter the accumulation zone and it is not excluded that there will be a short-term correction to the strong support zone of 1,286-1,290 points before returning to the uptrend.
March marks the general meeting of shareholders along with the business plan for 2025. The profit targets of enterprises are expected to be a suitable measure to measure the growth prospects of the VN-Index this year. In general, the GDP growth target of 8% in 2025 is expected to be a stepping stone for overall profit growth for the whole market.
On the stock market side, analysts at Mirae Asset Securities Company believe that global investment flows may become cautious when US tariff decisions start to take effect along with counterpart tariffs due in early April, which are risks that the market needs to be cautious about.
At the same time, the market still needs to monitor global macroeconomic risks. The Fed's interest rate decision in March is not expected to bring many surprises, but Chairman Powell's speech and the economic forecast for 2025 will be a notable focus when providing messages and views from Fed officials on the economic context.
The trading outlook in March is expected to be largely affected by the shift of cash flow to industry groups with better recovery and growth prospects (steel, real estate, stocks and retail), and witnessed profit-taking pressure in leading sectors in 2024 such as banking and technology.
VN-Index is expected to continue to grow and move towards 1,330 points in the context of being affected by mixed news from the international market surrounding the trading battle.
However, profit-taking pressure from the banking group will form short-term corrections to create a new balance of the VN-Index at the old peaks, especially in the context that the VN-Index is still trading at the resistance zone of 1,300 - 1,330 points formed from 2022.
"The new support zone of the HOSE floor index is expected to form around the 1,280-point zone when strong adjustment pressure occurs," experts from Mirae Asset Securities Company expressed their opinion.
