Vietnam Insight

Highlights:

• After two days of policy meetings, on March 19, the Fed announced that it would keep the reference interest rate unchanged at 4.25-4.5%.
• As of the end of March 20, domestic gold prices were further adjusted upwards for the selling price.  Currently, gold brands are buying at 97.8 million VND per tael and selling at 99.8 million VND per tael.

Technical view: The VN-Index closed the week at 1,326.15 (+0.1 points; +0.01%) with high liquidity. While the index remained unchanged from the previous week, this was primarily due to strong gains in VIC, MSN, and VCB stocks, with signs of adjustment in other stocks. Support and resistance levels are 1,300 and 1,350, respectively. We expect the market to experience a 10-20 point correction after the VIC group finishes its recent rally, testing the 1,300 level once again. The long-term upward trend remains intact.

Investment ideas: Maintain the holding trend to let profits run. In an uptrend, any corrections toward support zones or EMA lines will be opportunities to buy. Expect the securities, retail and banking groups to continue receiving inflows.