Market Trends: After rain comes sunshine
- Vietnam stock market witnessed a roller coaster movement of VN Index on future contract expiration date. However, the Index kept the green thanks to recovery of banking stocks.
- At the end, VN Index gained 0.04 point (0%) and closed at 1,345.87 points. Liquidity declined with a trading value of VND 18,203 bn, or 599mn shares traded. Meanwhile, the put-through transaction of VIC by foreign investors increased the net selling size of this group to VND1,319 bn.
- MSN (+3.38%), VCB (+1.03%), VRE (+5.08%) were the main drivers that helped retain the VN Index's score. Meanwhile, Vingroup family stocks including VIC (-3.94%) and VHM (-2.2%), along with SAB (-3.01%) played as the main resistance to restrain the index's gain.
- In general, there have been positive signals in the market after the reopening plan was introduced. The proof is that the green spread widely, notably to retail, ste5el, and especially banking stocks.
- Technically, the VN Index didn’t change much as it closed with a slight gain. In addition, a good signal is that the index temporarily surpassed the short-term downtrend line, and the RSI MACD seems to be ready to support the breakout. However, liquidity has not really been strong, showing that some investors are still cautious and are not in a hurry to make a big transaction.
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