Periodic Reports | Market Trends: Prepare for the “new normal”

Market Trends: Prepare for the “new normal”

30/09/2021

Summary

Vietnam stock market was quite bleak on Thursday's session as the cash flow fell short, making the VN Index unable to break further.

At the end, VN Index increased slightly by 2.85 points, or +0.21% and closed at 1,342.06. Liquidity continued to decline as the trading value dropped to VND 15,166bn, equivalent to 476mn shares traded. Foreign investors continued to net sell VND 178bn.

VIC (+1.5%), VRE (+2.83) and MSN (+1.13%) were leading VN Index to move up. Meanwhile, VCB (-1.32%), BID (-1.13%) and HPG (- 0.75%) put pressure on the index.

In general, today's session was quite gloomy as trading value dropped sharply. However, we think the crowd will be back soon in the coming sessions when the market absorbs the catalyst of the reopening from social distancing places, especially Ho Chi Minh City. Besides, we expect there will be a divergence in cash flow as the attraction will be toward stocks related to heating in global commodity prices, public investment as well as sectors benefiting from the reopening.

Technically, the liquidity of VN Index continued to drop (below 20 session average) showing that investors' sentiment is still cautious. In terms of performance, VN-Index continued its cumulative sideways trend in recent sessions. MA50, MA100 and short-term rising trendline will be support levels if there is a correction.

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