Vietnam Insight

▶ On Monday's trading session, the red vibe quickly spread at the beginning of the trading session. Strong selling pressure increased due to negative sentiment from investors, causing the market to flare up and close in red. However, market volume was recorded at a level 26% lower than the 20-day average.

▶ At the end of the trading session, the VN-Index decreased by 6.23 points (-0.49%), reaching 1,267.73 points; the HNX-Index decreased by 1.19 points (-0.51%), reaching 233.46 points. Market volume reached VND 11.7 trillion, equivalent to about 497.6 million shares traded. Foreign investors were net sold of VND 482.43 billion, mainly focusing on FPT, MSN, HPG.

▶ Technical perspective: VNINDEX opened down slightly by more than 7 points and remained red until the end of the trading session. Volume remained low, selling pressure did not increase at the support level of 1,260 points, but buyers also showed a cautious attitude after the market could not surpass the resistance level of 1,300 points. This is also a time when there is a gap in information, VN-Index is expected to accumulate around 1,250-1,300 points and needs a push to be able to break out.

Strategy: Investors wait for corrections and rebounds at the support area of 1,240 - 1,250 to buy new ones. Investors prioritize holding and observing to wait for a suitable buying point. The Fed meeting and the expectation of interest rate cuts will be notable events in September.