[Morning call] - Maintain the green for the entire session
22/11/2024

Summary

Global equities stabilized, but oil prices trended higher amid geopolitical tensions. In Thursday's regular trading session, the Dow Jones gained 1.06%, the S&P 500 rose 0.53%, and the Nasdaq Composite edged up 0.03%. Investors shifted towards cyclical stocks, which are expected to benefit from a strengthening economy, while technology shares were overlooked. Additionally, WTI crude futures rose about 2% to $70.1 per barrel on Thursday, driven by escalating tensions between Russia and Ukraine.

 

The VN-Index maintained a green tone despite foreign selling. The VN-Index closed at 1,228.33 (+11.79 points, +0.97%) with lower-than-average 20-day trading volume. The market saw 278 gainers and 94 decliners. Stocks like CTG, VPB, and MWG contributed to the market's gains, while SAB and BCM weighed on the index. Moreover, foreign investors continued to net sell over 860 billion VND.

 

Trading strategy: Investors can consider initial new investments in stocks with solid consolidation bases as the overall market shows positive reactions within the long-term price channel. However, we would like to note that there is still a possibility of the market pulling back to form a second bottom. Buying recommendation: ACB, HPG, TCM

 

 

Category
Daily
Author
Hoang Nam
Details

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