Vietnam Insight

▶ On Wednesday's trading session, the market continued its excitement in the morning session. However, selling pressure caused the market to adjust slightly in the afternoon session but still maintained the green vibe. Market volume improved significantly, equivalent to the 20-day average.

▶ At the end of the trading session, the VN-Index increased by 5.95 points (+0.47%), reaching 1,264.90 points; the HNX-Index increased by 0.66 points (+0.28%), reaching 232.95 points. Market volume reached VND 18.55 trillion, equivalent to about 799.8 million shares traded. Foreign investors were net purchase of VND 312.3 billion, mainly focusing on SSI, FUESSVFL, FPT.

▶ Technical perspective: Market volume improved and VN-Index continued to increase in the trading session. The index closed above all three EMA20, 50 and 200 lines, helping to strengthen investor confidence and attract more supply that had been on the sidelines observing in the past time. Foreign investors had 2 consecutive strong net buying sessions, which is a positive signal for the market. VN-Index continues to approach the 1,300 point threshold, which is also the level where the index failed 4 times in 2024. However, if volume continues to remain low and VN-Index fails to surpass 1,300 points, the index will correct and return to trading within a wide range of 1,250-1,300 points. Strategy: Investors should increase their positions at the price range of 1,260-1,270 points and consider further disbursement if the VN-Index surpasses 1,300 points with improved volume. The Fed meeting and the expectation of interest rate cuts will be notable events in September.