Market Trends: An amazing gift
- Vietnam stock market had another sublimate trading session after long holidays thanks to the explosive liquidity and the support of large cap stocks.
- At the end, VN Index edged up by 11.74 points, or +0.88% and closed at 1,346.39 points. Liquidity exploded as the trading value jumped up to VND 28,221bn, equivalent to 944mn shares traded. Meanwhile, foreign investors continued to net sell VND 325 bn.
- HPG (+4.07%) was the main driver contributing to the gain of VN Index, followed by VHM (+1.31%) and GAS (+2.03%). Meanwhile, GVR (-2%), MSN (-1.65%), VPB (-0.65%) dropped making the indexnot move further.
- Not only large-cap tickers, green also spread to other sectors helping the market prosper in the first trading session of the week. Meanwhile, the mid cap stocks have risen sharply after being taken profit, small cap’s weight in total liquidity is keep its rising momentum and large cap’s weight saw an improvement. The pessimistic August economic data seem not related to market’s movement currently. However, we still think that market participants put much hope on the success of the epidemic control of the government as they are sending a signal of reopening in some green areas.
- In term of technical perspective. VN Index closed above MA50 completely, the middle line of Bollinger Band has also crossed above MA50, showing that the situation is getting better. In addition, the MACD is above 0 level also supports an uptrend in the coming sessions. Thus, the market is quite excited with the strong cash flow.
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