Vietnam Insight

Highlights:

• Numerous securities firms have announced a decrease in their third-quarter 2024 earnings, primarily attributed to a shortfall in brokerage commissions. The stock market witnessed a sharp downturn in trading activity and volume throughout the third quarter.
• TCH and DIG are facing legal allegations, prompting both companies to submit explanatory letters to the State Securities Commission. 
• The 4.8% electricity price adjustment will not only strengthen EVN's financial position but also facilitate prompt settlements to power generation companies including POW, NT2, QTP, and HND.

Technical view: VN-Index closed the week at 1,285.46 points, down 3.44 points (-0.26%), with low trading volume. The market consolidated within a narrow range, accompanied by sectoral divergence. Notably, the banking sector continued to support the market. The VN-Index closed above the 10-day moving average, and the trend channel remains intact. On the daily chart, the 1,270 support level was successfully tested with buying pressure. The reference support and resistance levels are 1,270 and 1,300.

Investment ideas: Investors prioritize holding strongly leading stocks such as those in the banking sector. Additionally, investors may consider restructuring their weaker stocks and selecting sectors with strong cash flows, leading sectors like the VN30 index, or individual stocks with unique stories