Vietnam Insight

▶ On Monday's trading session, liquidity decreased to the average level. Many industry groups that were important pillars in the recent uptrend of VN-Index such as Banking and Real Estate had two consecutive decline sessions.

▶ At the end of the trading session, the VN-Index decreased by 11.86 points, down (0.95%), to 1,235.49 points; HNX-Index decreased by 2.48 points (1.05%), to 233.84 points. Market liquidity reached VND 23.9 trillion, equivalent to about 975.9 million shares traded.

▶ Technical perspective: The market continued the profit-taking trend from last Friday's session. Many bank stocks that had strong rallies in the previous period were under strong selling pressure and broke through the EMA 20, such as ACB, MBB, ... The STOCH indicator, after crossing below the signal line and falling to the 59 zone, indicates that there is still a possibility of further decline, and there is no sign of significant buying orders. It is reasonable to observe the VNINDEX reaction at the EMA 20 zone, as the index has always able to held this zone since the beginning of the year. However, we believe that VNINDEX needs to retest the EMA 50 corresponding to the 1,200 zone for the subsequent uptrend to be sustainable.