Vietnam Insight

▶ Negative sentiment spread widely, fearing the scenario of the US economic recession after the unemployment rate (soaring to 4.3%) was published last week. On the Monday's trading session, the domestic market unanimously rallied on fire along with many international markets in the first session of August.

▶ At the end of the trading session, the VN-Index decreased by 48.53 points (-3.92%), reaching 1,188.07 points; the HNX-Index decreased by 8.85 points (-3.82%), reaching 222.71 points. Market volume reached VND 23.78 trillion, equivalent to about 1,038.1 million shares traded. Foreign investors were net sold of VND 737.58 billion, mainly concentrated in HPG, FPT, MWG.

▶ Technical perspective: VN-Index opened with a strong gap down and then selling pressure continued to increase in the afternoon session, causing the index to plummet, reseting all the efforts to increase points from last Friday's session. At the end of the session, VN-Index decreased by nearly 50 points, losing the MA200 threshold - equivalent to 1,200 points. The short-term trend of the market is still down. In a less positive scenario, the market will need to re-test demand at the 1150 - 1170 area.

Strategy: Investors continue to observe the market's developments at the 1,170 point support zone to take appropriate actions. It is recommended to maintain a safe portfolio status with a low stock weight.