After a week of trading under strong selling pressure, the stock market has turned positive again this week (July 22-26). VN-Index decreased 1.79% compared to last week to 1,242.11 points. HNX-Index ended the week at 236.66 points, down 3.86 points, equivalent to 1.6%. Meanwhile, VN30-Index decreased 1.57% to 1,281.84 points.
Matching volume for the whole week decreased by 18.2% on HOSE and 20.9% on HNX. A special point is that foreign investors this week returned to net buying with 420 billion VND on HOSE, focusing on KDC (+470 billion), SBT (+439 billion), VNM (+232 billion) and MSN (111.6 billion). billion)... Meanwhile, they net sold on HNX with 13 billion VND.
The industry group actively trading on the market this week is telecommunications with the tickers FOX (+5.11%), TTN (+7.74%), FOX (+5.11%)... In addition, a Some other stock groups also had impressive developments such as electricity, water - petroleum. Many falling codes were concentrated in the securities industry with SSI (-7.76%), VCI (-5.16%), VIX (-12.66%), BSI (-7.55%)... Banks and insurance also traded less positively with LPB (-8.7%), MBB (-4.33%), BVH (-5.57%%), MIG (-5.97%).. .
In the past week, reports from a number of organizations such as HSBC and Citibank all had positive assessments of Vietnam's economic prospects based on the strong growth momentum of second quarter GDP and export sectors. FDI. HSBC raised its 2024 GDP growth forecast to 6.5 % (previously 6%) and reduced its inflation forecast to 3.6 %.
Assessing the market in the short term, SHS Securities Company still sees a lack of positivity when VN-Index cannot maintain the growth trend line. In a positive case, the index needs to surpass the resistance area around 1,255 points (the highest level in 2023), to improve the short and medium-term trend. The positive point is that the market is strongly differentiated. Many codes are quite positive and have better price increases, aiming for the expectation of surpassing the old peak area when there is good growth in business results in the second quarter of 2024 such as in the industrial park real estate group, gas distribution, plastics, and oil transportation. gas, gasoline... Some technology codes tend to recover to old peaks.
According to SHS, investors should maintain a reasonable proportion at an average level and should not chase when the VN-Index recovers to the price range around 1,250 points. With disbursed positions at this price range, the proportion is high, violating the stop loss level if any, you also need to consider selling down when recovering. Medium- and long-term investors holding the current portfolio should consider increasing the proportion and carefully evaluate them based on the second quarter business results and year-end prospects of leading companies in the industry.
Vietcombank Securities Company (VCBS) believes that the market is showing relatively clear signs of recovery with stable cash flow spreading among industry groups. Investors can consider continuing to disburse partially for codes showing signs of recovery with the market. In particular, codes that still maintain cumulative movements on the MA20 line belong to a number of industry groups such as banking, retail, and petroleum.
