Vietnam Insight

▶ On Wednesday's trading session, the market tended to be positive from the beginning of the session but continued to tug-of-war in the morning session. As a result, the market could not maintain the green color and quickly reversed before closing. Trading volume improved but was still lower than the 20-day average.

▶ At the end of the trading session, the VN-Index decreased by 3.56 points (-0.29%), reaching 1,242.53 points; the HNX-Index decreased by 1.01 points (-0.46%), reaching 220.67 points. Market volume reached VND12.03 trillion, equivalent to about 508.9 million shares traded. Foreign investors were net sold of VND248.9 billion, focusing on GMD, FRT, FPT.

▶ Technical perspective: VN-Index had a session with slight selling pressure when it reached the 1250 area. This is quite understandable when the 1250 area is a price area that has had many large fluctuations before. Liquidity remains low, the market shows that demand is still limited. With this state, VN-Index needs a sideways accumulation area to absorb selling pressure at the resistance level, while pulling the cash flow back.

Strategy: The market is following a sideways trading trend. If trading short-term, investors can consider disbursing around the 1,220-point area and gradually taking profits when approaching 1,300 points. With a holding investment strategy, investors will only disburse strongly when VN-Index surpasses and successfully defends the 1,300-point area.