China's Evergrande Group files for Chapter 15 bankruptcy protection in the US. This is a formality as Evergrande had already defaulted nearly 2 years ago.
At commercial banks, the USD price surged strongly in both buying and selling directions. Vietcombank listed the selling price of USD at 24,125 VND/USD and the buying price at 23,755 VND/USD.
In the trading session of the last Friday, VNINDEX saw a sharp drop of 55 points, -4.55% with the highest ever recorded liquidity.
Technical view: This week, VNINDEX has traded sideways until the last trading session, where unexpected selling pressure emerged, causing the market to drop 55 points (-4.55%) from 1220 to 1177.
Investment Ideas: In the coming week, we recommend that investors observe the market from the sidelines and avoid trying to catch the bottom, as the risk of further decline remains high. Stick to the discipline of selling stocks that violate the MA 20 and MA 50. However, with this downward trend, many stock prices are becoming more attractive for investment. Additional observation is needed to find safe buying opportunities, as the market will need time to consolidate before a potential return of upward momentum. We expect the end of September to be a period where stocks prepare for a resurgence, with a more positive outlook for year-end financial results.
- Movement of cash flows and capital flows
- Top stocks worth noting
- Macro data
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