The Vietnamese stock market has set an unprecedented record when recording the total trading value on all three exchanges on July 29 to more than VND 80,000 billion. Of which, the value of matched orders alone has reached VND76,000 billion, the highest ever and far exceeding the old record.
More than 4.4 billion shares in accounts today and next session will be a real challenge for the market as well as investors. The 1,500-point mark is expected to be the most important and notable threshold during this time.
That has made investors quite cautious in today's trading session, July 31. Investors with available stocks have stepped up their sales since the morning session. Selling pressure causes VN Index to sometimes fall into a state of losing points, even "falling" to 1,500 points.
However, in the final match, the bottom-fishing cash flow was pushed to the electric board, helping many stocks reverse to increase. Thanks to that, the VN Index ended the last session of July with only a slight decrease of 5.11 points, down to 1,502.52 points.
In today's session, the index was negatively affected by 3 Vingroup stocks: VIC, VHM and VPL. Next are some bank stock codes such as VCB, TCB, BID, CTG... The loss of points in large-cap stocks is also the reason why the scoreboard records the number of stocks increasing slightly compared to the decrease in stocks.
Thanks to the cash flow pouring in in in the last minutes, HoSE's liquidity continued to stand at a high level with approximately 1.7 billion shares matched, equivalent to a trading value of VND43,175 billion. In the whole market, the total transaction value reached VND48,770 billion. The minus point of today's session comes from foreign investors with a net selling value on HoSE to nearly VND 2,000 billion. Accordingly, there are 5 codes that were net sold for more than 200 billion VND: CTG, VPB, HPG, KBC and the familiar name FPT.
In general, after a period of strong and prolonged increase before, pressure to take strong profits in the short term is inevitable, especially in groups of stocks that are rising rapidly. However, the long-term outlook for Vietnamese stocks is still assessed as positive.
Dr. Nguyen Duy Phuong, Investment and Strategy Director of DG Capital, said that regarding profit growth, the whole market still expects a level above 15%. If we consider the valuation, the current P/E is below 15 times - not too cheap but not too high, moreover, in the context of still having prospects for profit growth, such a valuation is acceptable. In addition, legal factors and expectations of market upgrading are also supporting positively. Foreign investors are also starting to show signs of returning. Thus, this is the time for investors to allocate a part of their assets to the stock market appropriately.
However, there are a few things to note, including determining risk appetite, thereby choosing the right strategy; choosing a trading strategy; choosing the right portfolio, with two important factors: long-term trends and profit growth of enterprises. The market is currently clearly showing an upward trend, so you should choose stocks with good core growth and have entered an upward trend. Combined with the "swing trading" strategy, it also helps optimize capital prices in small adjustments, instead of trying to bottom out or wait for adjustments," said Dr. Phuong.
