Vietnam Insight

▶ On Wednesday's trading session, the market maintained a continuous green color in today's trading session, led by financial groups (banking, securities, insurance). Market volume improved significantly and increased sharply in today's session, exceeding the 20-day average level.

▶ At the end of the trading session, the VN-Index increased by 10.49 points (+0.82%), reaching 1,287.48 points; HNX-Index increased by 1.52 points (+0.65%), reaching 235.84 points. Market volume reached VND 22.79 trillion, equivalent to about 992.8 million shares traded. Foreign investors were net purchase of VND 525.8 billion, mainly focusing on VCI, MWG, TCB.

▶ Technical perspective: VN-Index is currently above the EMA lines 20, 50 and 200 and approaching 1,300 points. Selling pressure appeared but the buying pressure was well absorbed in today's trading session. In addition, foreign investors have maintained net buying in recent trading sessions and banking stocks are the group leading the increase this time. The MACD indicator crossed above the signal line, supporting the index's increase. In the short term, we expect VN-Index to fluctuate in the range of 1,260-1,300 points, waiting for a large liquidity session with a wide amplitude to confirm surpassing 1,300 points. In case of continued failure in approaching this old peak, the index will return to retest the 1,240-1,250 point range once again. Strategy: Investors observe at this price range, increase the proportion if VN-Index successfully surpasses 1,300 points with improved volume.