Vietnam Insight

▶ On Tuesday's trading session, the market opened with a positive green color, showing confident recovery of the buy-side. However, selling pressure quickly increased, causing the market to reverse and maintain the red color until the end of the session. Market volume improved, recording the same level as the 20-day average.

▶ At the end of the trading session, the VN-Index decreased by 12.50 points (-0.99%), reaching 1,255.23 points; the HNX-Index decreased by 1.77 points (-0.76%), reaching 231.69 points. Market volume reached VND 15.6 trillion, equivalent to about 690.1 million shares traded. Foreign investors were net sold of VND 387.4 billion, mainly focusing on MSN, FPT, VPB.

▶ Technical perspective: VNINDEX opened slightly green by 2 points, however, selling pressure appeared at the end of the afternoon session. Market volume remained low throughout the trading day but sueged in the afternoon session. However, selling pressure quickly decreased when VN-Index returned to the 1,250-point resistance area. If VN-Index is not experienced strong selling pressure and successfully maintains around the resistance area of 1,250-1,260 points, this is considered a healthy correction phase before continuing to increase. On the contrary, if VN-Index loses 1,250 points with a wide amplitude and selling pressure increases, the index will likely move towards the 1,200-1,220 point area.

Strategy: Investors waiting for corrections and rebounds at the support zone of 1,240 - 1,250 can buy new. It is recommended that investors prioritize holding and observing to wait for a suitable buying point. The Fed meeting and expectations of interest rate cuts will be notable events in September.