Vietnam Insight

▶ After the previous session's fluctation, VN-Index opened a new session below the reference level and traded around the reference level in the morning session. The market quickly regained increase momentum in the early afternoon session with the return of strong net buying by foreign investors with purchasing power spreading across many groups of stocks. 

▶ At the end of the session, VN-Index increased 6.75 points (+0.49%), reaching 1,384.59 points; HNX-Index increased 3.17 points (+1.39%), reaching 231.62 points. Market liquidity continued to improve compared to previous sessions, reaching VND 24.9 trillion, equivalent to 1.079 million shares traded. Foreign investors returned to net buying VND 886 billion in the session, mostly concentrated in GMD, GEX and VIX. On the other hand, VHM, VCB and HSG were the stocks under the most net selling pressure.

▶ Technical perspective: The market recorded an increase with a narrow trading range. Liquidity improved above average and the breadth improved, which shows that demand increased slightly during the session. Currently, VN-Index has started to move in an uptrend. If selling pressure continues to be insignificant, VN-Index is likely to maintain this increase in the coming time.

In the positive case: The market maintains MA50 in the face of short-term profit-taking pressure from the market, along with positive information from tax negotiations from Vietnam. This will open up a positive signal to help investors confidently disburse in the coming time.

In the base case: Vietnam has no new progress on tax agreements, the main trend will still trade sideways waiting for clearer signals from the market.

Strategy: Investors temporarily stop buying new stocks that have increased. Prioritize holding more. If participating in new purchases, you can participate with a low proportion, prioritizing groups that closely follow the MA 20/50/200 support and are in an uptrend. You can prioritize real estate, banking, and energy groups that are in low areas and have an accumulation base.