Vietnam Insight

▶ Vietnamese stock market posts the third straight day ended flat. Market sentiment remained cautious as investors await the fresh batch of domestic economic data will be released next week.

▶ At the end of the trading session, VN-Index slightly downed to 1,280 while HNX-Index was little changed at 237. The trading turnover was downed to VND14,029 billion. Meanwhile, foreign investors narrow their consecutive net selling streak with VND98 billion on the HOSE. In particular, HPG (-VND 129billion),  HSG (-VND89 billion) and VHM (-VND84 billion) were the top sold tickers.

▶ Technical perspective: The cautious sentiment continued to appear in the trading session. VN-Index traded in a narrow range and closed the session with a Doji candlestick, liquidity decreased to around the average. Investors cautious ahead of the holidays while no fresh catalyst to bolster market movement. Investors should observe market movement in the coming time to take appropriate actions. If the market maintains low-average liquidity in the down sessions and buying power appears with increased liquidity in the up sessions (ideally if VN-Index can break out to 1,300 with improved liquidity), investors can confidently increase their positions. On the contrary, if liquidity increases sharply, the range is wide in the down session and loses the support level of 1,250 points, investors can consider reducing the proportion to manage portfolio risk.

Strategy: Investors wait for corrections and rebounds at the support zone of 1,240 - 1,250 to buy new ones. It is recommended that investors do not participate in chasing buys but prioritize holding and observing to wait for the right buying point.