Vietnam Insight

▶ On Wednesday's trading session, the market opened in red, with weak demand from buyers. Selling pressure on real estate and finance groups was also the cause of the red spread. Market volune gradually improved in the afternoon session but was still insignificant and closed in red. Market volume recorded a level lower than the 20-day average.

▶ At the end of the trading session, the VN-Index decreased by 1.96 points (-0.16%), reaching 1,253.27 points; the HNX-Index decreased by 0.24 points (-0.10%), reaching 231.45 points. Market volume reached VND 12.8 trillion, equivalent to about 583.7 million shares traded. Foreign investors were net bought of VND 7.53 billion, focusing on FPT, VNM, DXG.

▶ Technical perspective: VNINDEX fluctuated narrowly with low liquidity, selling pressure weakened at the support zone of 1,240-1,250 points while buying pressure remained on the sidelines. The positive point is that buying pressure appeared around the support zone in the afternoon session, helping the index increase by more than 5 points from the lowest level of the trading session. In the coming time, if VN-Index does not see strong selling pressure around the area and successfully maintains the resistance zone of 1,240-1,250 points, this is considered a healthy adjustment period 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.