Thursday, April 15, 2021 11:16:30 AM - Markets open
VN-INDEX 1,261.23 +5.36/+0.43%
HNX-INDEX 296.21 +1.38/+0.47%
UPCOM-INDEX 82.96 -0.43/-0.52%
Vietnam’s GDP growth estimated at 2.91 pct this year
Vietnam+ - 12/28/2020 1:57:07 PM
 (0 ratings. You must sign in to rate.)
 Brokerages are forecasting shares to climb higher this week, adding that the market will correct first before advancing to the next support zone.
The benchmark VN-Index on the Hồ Chí Minh Stock Exchange gained 1.58 per cent to end Friday's trading session at 1,084.42 points.
The index had gained 1.59 per cent last week.
An average of 739 million shares were traded on the southern stock exchange during each session last week, worth VNĐ14 trillion (US$618.3 million).
“The VN-Index will possibly retest resistance 1,100 points next week. However, the market’s movement will witness alternative ups and downs during its uptrend,” said BVSC Securities Co.
“Overall, we believe that the market will enter a correction phase to establish a new price range at 1,045-1,100 points in the short term. The cash flow tends to shift among stock sectors to seek profits.
“Large-cap stocks will support the market. Cash flow still shows interest in medium and short-term stocks,” the company said.
“Stock exposure should be lowered to 25 per cent to 45 per cent of the total investment. Investors should consider lowering short-term positions at our aforementioned resistance zones,” it said.
Meanwhile, MB Securities JSC (MBS) said the market regained its upward momentum thanks to the boom in the finance - banking group and the trend spread to all sectors.
Cash flow spread among many groups of stocks helped market liquidity remain at a high level, MBS said.
According to MBS, the January is when stock prices, especially large-cap stocks and stocks with positive fourth-quarter business results, show an uptrend lasting from the last trading session in December to the first week of January.
Seven out of the last 10 years saw the market enjoy prosperous transactions in January.
“Technically, with the current increasing inertia, the resistance level of 1,085 points can be completely conquered, but the shaking sessions to test the support levels will occur before the market reaches new highs. Short-term targets will stand around 1,100-1,120 points,” MBS said.
“The excitement among investors last week continued to help Việt Nam's stock market to increase positively and now approach stronger resistances,” it said.
According to Saigon-Hanoi Securities JSC (SHS), the group of construction materials stocks increased the most last week with gainers including Hòa Phát Group (HPG), increasing 5.6 per cent, and Hoa Sen Group (HSG) rising 2.3 per cent.
It was followed by the financial group with gainers such as SSI Securities Corporation (SSI), up 13.1 per cent, Việt Capital Co (VCI), rising 14.5 per cent, Saigon-Hanoi Securities Co (SHS), climbing 19.1 per cent and VNDirect Securities Co (VND), up 19.5 per cent.
Saigon-Hanoi Securities JSC said the VN-Index ended last week right above the resistance level of 1,084 points, the threshold the index had challenged for four sessions. The excitement of investors made bottom fishing demand increase whenever the index dropped, causing the market to rebound strongly.
“However, the uptrend showed signs of slowing down with the frequency of more corrections,” it said.
“SHS believes the market is likely to continue to reach the higher resistance zone in the range of 1.120-1.130 points, but with low probability. The higher probability is that the market will shake strongly with selling pressure around 1,084 points,” the company said. — VNS
Read original article here
Newer News
12/04 Shares to climb on positive Q1 earning results
08/04 Shares rise for eight consecutive sessions, VN-Index hits new high
05/04 Stock market size on HOSE reaches nearly 71 percent of GDP
01/04 Thriving equity market helps boost business transparency
30/03 Stock market expected to maintain growth path in 2021
30/03 Goal of 6.5 percent growth rate – big challenge: GSO head
26/03 Shares rebound due to improved sentiment
23/03 Shares close higher but VN-Index fails to hit 1,200
18/03 Market reverses course, VN-Index rebounds
17/03 VN-Index down on continued congestion, HNX-Index extends gains
Older News
25/12 Stocks collapse on worries about system failure
17/12 Shares reach one-year peak on banking stocks
15/12 Financial stocks boost markets
10/12 VN stocks rebound, focus switches to banking, securities firms
07/12 Market’s uptrend may weaken after five consecutive gaining weeks
01/12 VAFI says no to increase the minimum trading lot to 100 shares.
27/11 VN-Index hits one-year high of 1,000 points
24/11 VN stocks remain upbeat, rally extends for 5th day
24/11 Realty stocks are attractive: experts
18/11 Margin trading should be allowed on UPCoM
Newsletter Signup
Top Stories
CPTPP gives boost to Vietnamese exports
Hanoi: March CPI down 0.21 percent against February
Goal of 6.5 percent growth rate – big challenge: GSO head
Reference exchange rate up 12 VND
Vietnam maintains positive outlook for economic recovery in 2021: WB
Market Update
Last updated at 11:15:02 AM
VN-INDEX 1,261.23 +5.36/+0.43%
Real-time chart
Top 5 Actives
Top 5 Gainers
Top 5 Losers
My Favorite Quotes
Your most recently viewed tickers will automatically show up here if you type a ticker in the Get Quotes box on the top of the page.
Company Research
Type in the symbol above for thorough background information, key statistics and financial information.
Stock Sectors
We continuously improve our services, here are the latest updates...
Allow you to monitor a customised group of securities. You can set up multiple Portfolios to help you better manage your investments.
Trigger Alerts
Get up-to-date alerts delivered directly to your email address.
Stock Screener
Allow you to filter the market and find exactly what sort of company you are looking for.
Live Terminal
Get instant access to FREE REAL-TIME streaming quotes for hundreds of stocks from HOSE, HNX and UPCOM exchanges.