In this trading week (September 28 – October 2), the market is expected to continue to maintain positive movements in the context of a drop in selling by foreign investors and the upcoming Q3 earnings season.
The September 21-25 trading week took place quite positively as the VN-Index continued to hold the 900-point mark. Closing the trading week, VN-Index stopped at 908.27 points, equivalent to an increase of 0.8% compared to the previous week.
Along with the increase in points, market liquidity also improved with average matched value of HoSE reached VND 5,687 billion / session, up 9% compared to the previous week. However, in the last 3 trading sessions of the week from September 23 to 25, market liquidity somewhat decreased when the VN-Index approached 910 points.
Foreign investors’ trade was also a bright spot when they returned to a net buying of 54 billion dong after a series of net selling in many recent months. ETFs such as FTSE Vietnam ETF, VFMVN30 ETF, VFMVN Diamond ETF or SSIAM VNFin Lead ETF also attracted money back to reinforce market sentiment.
VN-Index maintained the level of 900 points in the last trading week of September?
In this trading week (September 28 – October 2), the market is expected to continue to maintain positive movements in the context of a drop in selling by foreign investors and the upcoming Q3 earnings season. Commenting on market movements, VCBS Securities Company gave information on economic stimulus packages of many major economies in the world as well as the Vietnamese government’s determination to stabilize the domestic macro-economy during the year. 2020 may help strengthen investors’ confidence.
However, profit-taking pressure in recent sessions is still quite significant and might cause the index to have a slight correction to retest the support level of 900 points.
Therefore, VCBS predicts that the index will continue its cumulative fluctuation in the area of 900 – 920 points in the short term to wait for Q3 business results season of listed companies and investors can take advantage of. the market trend to accumulate stocks if there is a downtrend in the coming weeks, with the focus still on stocks that are leading the index at the moment such as banking and real estate.
Sharing a positive view, BSC Securities believes that the VN-Index is in a state of gaining momentum when it just surpassed the surrounding 900 point area, thereby opening up a more optimistic outlook in the near future. The fact that the liquidity is maintaining good and stable value shows that the traders in the market today are still quite active as the cautiousness has gradually been removed.
According to BSC’s assessment, VN-Index this week will maintain its uptrend and head to the next resistance zone at 915-920 points. On the other hand, S&P Global Ratings has just predicted that Vietnam’s economic growth will rank second in Asia in 2020, so the stock market is likely to continue to move positively from now to the end of the year.
Bao Viet Securities (BVSC) also has a positive view on the market as it thinks that the VN-Index might face correcting pressure in the first sessions of the week and rebound back to the end of the week. BSC assesses that the index will fluctuate in the support area limited to 900-905 points and the resistant level around 920 points.
In general, BSC maintains a positive assessment on the market trend with an expected destination at 930-940 points in the near future. However, market movements in this period will be relatively uncomfortable with strong differentiation among stock groups. Large-cap stocks will still generate the interest of cash flow and will alternately increase points to support the market.
Meanwhile, MBS Securities Company assesses the scenario that this week the market may be inclined to adjust and differentiate before the Q3 business results wave and the government’s support for public spending stimulus as well as the possibility of lowering interest rates. , re-restarting connections with countries in the region when Covid-19 was well controlled in the country. Due to the measurement, MBS forecasts VN-Index will fluctuate around from 898 points to 915 points.