The market's main indexes promptly maintained the green color in the final trading session, ending a series of strong increases in the past week. At the end of the trading week, the VN-Index increased 33.09 points (+2.64%), to 1,285.32 points. HNX-Index increased 4.92 points (+2.09%), to 240.07 points.
Liquidity on both exchanges improved very well compared to the previous week, when matched volume increased by 20.6% on HOSE and nearly 24% on HNX. Besides, trading volume still remains above the 20-day average, showing that investors have begun to actively participate again. Cash flow continued to focus on real estate codes and helped this group become a bright spot on the electronic board for the second consecutive week.
However, net selling pressure from foreign investors last week will hinder the index in maintaining its upward momentum in the coming time. Foreign investors net sold more than 1.2 trillion VND on both exchanges last week. Of which, foreign investors net sold nearly 968 billion VND on HOSE and net sold nearly 255 billion VND on HNX.
Also last week, US stocks increased on Friday (August 23), after US Federal Reserve Chairman Jerome Powell said interest rates were about to be cut. However, Mr. Powell did not provide specific information about the time or level of interest rate cuts. However, this is also the information that investors are waiting for.
Domestically, statistics on business results in the second quarter of 2024 of listed enterprises show that profit after tax increased by 26% compared to the same period in 2023. In addition to reflecting a recovering business environment, the increase Profit growth of businesses helps make stock valuations more attractive.
Experts from Yuanta Vietnam Securities Company assess that there is a very high possibility that the VN-Index has created a short-term bottom in the session of August 5, 2024, with the lowest score of 1,184.53 points.
Looking back at the recent 2-year history, the index often creates a V-shaped bottom, then moves sideways to accumulate and then rebound; Looking at a longer period of time, the market has many times created a 2-bottom or 3-bottom model.
At the current stage, Yuanta's experts are leaning towards the scenario where the VN-Index has successfully created a V-shaped bottom and a recovery rhythm towards the 1,260 +/- 10 point area, after which it can enter a sideways phase with amplitude 30 - 50 points. If we follow that scenario, VN-Index can break out of the 1,300 point threshold and move towards a new area around 1,370 points.
Experts from DSC Securities Company said that both domestic and foreign stock indexes returned to an "attack" position after a necessary break. Experts expect that not only the technical cash flow but also the most "apathetic" outside positions will soon disburse again. It is likely that the market will begin to enter the "easy to invest" phase after 3-4 months of ups and downs. DSC recommends that investors can expand their capital scale and watch for slowdowns in the new week to increase their position.
