Vietnam Insight

▶ In Thursday's trading session, Vn-Index tended to rise in the context of banking stocks becoming the main driving force. The buying force focused on the Banking group at the beginning of the afternoon session has created a certain optimism for investors. However, foreign investors tended to net sell, continuing to put pressure on some large stocks such as MSN and VHM even though they did not have too much impact on the whole market. In general, investor sentiment in the market remains a mix of expectation and heightened prudence.

▶ At the end of the trading session, the VN-Index increased by 5.85 points (+0.46%), reaching 1,264.48 points; HNX-Index increased by 0.48 points (+0.21%), reaching 226.36 points. Market volume reached VND 18.1 trillion, equivalent to about 614.3 million shares traded. Foreign investors net sold VND 1665.66 billion, mainly concentrated in MSN, VHM and STB.

▶ Technical perspective: The index continues to move on the MA200 basis with a trend of accumulation around this area. With the basic scenario, the index will test the resistance level around 1270, if it is successfully conquered, the index will aim for 1,280. With a negative scenario, if demand continues to be weak, the index is likely to return to test the 1,250 area to attract new cash flows. 

Strategy: Investors should maintain a holding position while the market is still in a sideways state. The buy recommendation needs to wait for the market to move towards the 1,270 area and have a tendency to bounce back up or wait for it to surpass 1,300.