Vietnam Insight

▶ On the Thursday's trading session, the market had a positive uptrend and improved even more clearly in the afternoon session. Green vibe spread in most industry groups. However, the market volume was still at moderate level, remaining below the 20-session average.

▶ At the end of the trading session, VN-Index increased 6.84 points (+0.57%), reaching 1,216.36 points; HNX-Index increased slightly by 0.67 points (+0.30%), reaching 227.49 points. Market volume reached VND 14.4 trillion, equivalent to about 570.4 million shares traded. Foreign investors were net sell of VND 868.8 billion, focusing mainly on BWE, FUESSVFL, and SSI.

▶ Technical perspective: VN-Index continues to struggle with low liquidity, showing caution on the buying side. The market closed in the green with a large contribution from the VN30 group. Cash flow has a strong differentiation after companies have announced their financial statements for the first quarter of 2024. The market is trying to recover in a downtrend and there are no confirmed signs of a reversal. We assert that VN-Index will fluctuate in the near future when it meets the next resistance at 1230, corresponding to MA20.

Strategy: Investors prioritize structuring stocks with weak positions, complying with discipline as well as prioritizing capital preservation.