Vietnamese
Market Trends: Slowing a bit to jump far
29/09/2021
Summary
- The negative growth data of the third quarter just released put pressure on Vietnam's stock market in the morning session. However, the VN Index narrowed its drop to near the reference level before closing.
- At the end, VN-Index decreased slightly by 0.1 points or +0.01% and closed at 1,339.21 points. Liquidity continued to decrease as the trading value was only VND 17,235 bn, equivalent to 598 million shares traded. Foreign investors returned to net sell more than VND 511 bn.
- Retail, oil & gas, and commodity tickers continue to act as pillars for VN Index. In which, MSN (+3.68%), GAS (+1.79%) and HPG (+1.33%) contributed the most. Meanwhile, the drop from banking sector including CTG (-1.78%), VCB (-0.71%) and VPB (- 1.2%) created a counterweight and negatively impacted on the index.
- Generally. Negative factors seem to have been discounted into the index over the past few months. While the positive outlook from the reopening, as well as the room for fiscal and monetary policy to stimulate the economy is visible. Therefore, we expect the market to return to the upward trajectory in Q4.
- Technically, VN Index closed creating a long-tailed Doji candlestick pattern in the context of the market moving sideways. That means the market is still cautious. The MA50 line, after creating a death cross in the previous week's correction, is tending to go above MA100. This is a positive signal for VN Index.
Category
Daily
Author
SSV
Details
Page: 3
Lauguage: English
File format: pdf
Size: 193.38 KB
