Market trends - Regain ground


  • The stock market rallied cautiously. The Fed raised interest rates by 25 basis points at its March meeting, bringing the US reference rate to 4.75%-5%, pushing borrowing costs to new highs since 2007 in its campaign against inflation and signal uncertainty about future rate hikes.
  • At the end of the session, the VN-Index gained 4.6 points (+0.4%), reaching 1045.1 points; HNX-Index dropped slightly by 0.9 points (-0.3%), reaching 203.3 points. Foreign investors net bought VND 336.4 billion, focusing on VHM, HPG.
  • From a technical perspective: The index regained the support level around 1,040 points (corresponding to 20-day MA) along with technical indicators back to neutral level. This means that the sideways trend will probably be appropriate in the next sessions. The immediate resistance is at 1,060 points while the corresponding support below is the psychological level of 1,000 points. The index will probably fluctuate within this range to find direction.

Page: 5


File format: pdf

Size: 6.40 MB