Stock market still showing an uptrend in the near future

VCN - From November 22 to 26, the stock market has seen positive changes. This week, experts recommend that short-term "surf" investors should focus on trading in leading stocks in the market. However, they need to carefully consider the price of each specific stock so as not to hold speculative stocks with a high risk factor.
Stock market still showing an uptrend in the near future
Source: Internet

VN-Index increased by 40.68 points compared with last week

This week witnessed a continuous increase of VN-Index, compared with the previous week, and set a historic peak, reaching 1,500 points.

Accordingly, VN-Index increased by 40.68 points (2.8%) compared with the previous week. Closing the last session of the week, VN-Index reached 1,493.03 points. This is because in the last session of the week, on November 26, the VN-Index decreased by 7.78 points (down by 0.52%) compared with the previous session.

HNX-Index also increased by 4.66 points (1%) to 458.63 points. UPCoM-Index increased 1.1 points (1%) to 114.34 points.

Last week, foreign investors' transactions were headed in a negative direction when the net sold by this group was higher than the previous week by 2.7 times. Specifically, the net sold by foreign investors was at 87.6 million shares, equivalent to a net selling value of VND3,170 billion.

Market liquidity still remained at a high level, although it is decreasing compared to the previous week, with the average trading value of VND 39,719 billion/session, a reduction of 8.1%.

A positive point for the market is that large-cap transactions were more active than the previous week. In the top VN30, there were 21 stock symbol increases while nine ticker symbols declined. The last week recorded positive changes in banking stocks and contributed significantly to helping VN-Index surpass 1,500 points.

In situations that foreign investors still maintained strong net selling momentum, individual investors played an important role in helping the stock market go up.

Commenting on the drop at the end of the week after setting a new peak of 1,500 points in the previous session, MB Securities Company (MBS) said that the market felt fear due to the new variant of Covid-19 virus, however, this session's decrease was lighter compare to the other regional markets, as well as other major markets in the world. It showed that investors were not panicking. If there was no information about the new variant of Covid-19 virus, the market's decline in the last session would have been quite normal after surpassing the peak of 1,500 points.

The positive point is that key stocks such as banks and real estate, or large stocks like VIC and VNM, have tried to prevent the market from having a deep decline, despite the strong net selling pressure from foreign investors. Besides that, the positive signal from the small cap group showed that the cash flow would continue in small and speculative stocks.

According to the Asean Securities Company (AseanSC), the market recorded a slight decline due to the new Covid-19 variant in South Africa negatively affecting investors’ psychology. The positive point was that the bottom-fishing cash flow was always standing, thereby preventing the market from falling too deeply. AseanSC believed that swings and corrections were completely normal. It was also a good opportunity for investors to increase the proportion of stocks in their portfolios.

VN-Index may continue to increase

Vietcombank Securities Company (VCBS) said that the VN-Index has officially entered a short-term uptrend, mainly thanks to the pull of banking stocks and the gaining momentum which had not spread across the market.

This unit thinks that the trend of the index in this week would be to retest the support level at around 1,490 points and wait for the spread of green color to other codes on the market, before conquering new resistance levels.

Short-term "surfing" investors are still recommended to focus on trading in leading stocks in the market, but they should carefully consider the valuation of each specific stock and should not hold speculative stocks of a high proportion to avoid risks.

Meanwhile, long-term investors can still look for opportunities in stocks that have attractive valuations compared to the common ground, whilst still enjoying positive growth potential in the fourth quarter of 2021, as well as in 2022.

According to Vietnam Construction Securities Joint Stock Company (VNCSI), the uptrend had lasted for more than a month, so there was a high possibility that a correction would occur. Moreover, this was still a strong resistance level, so we continued to maintain our view that investors should stay out and observe.

“The market still showed an uptrend in the medium term, but we expected the VN-Index would have a correction to return to the support level of around (1,400 – 1,420) points. At this level, the cash flow was likely to return to the market, continuing the uptrend”, VNCSI stated.

Asean Securities Company (AseanSC) forecasted that, in the first trading session of the week, on November 29, the demand at the support area was near 1,485 - 1,490 points. This might help VN-Index recover again in the morning to test the resistance area, which was near 1,495-1,500 points. Longer forecasts saw the resistance zone at 1,505-1,510 points. The shaking might take place at high prices, so VN-Index might narrow its gaining momentum towards the end of the day.

Meanwhile, the Saigon - Hanoi Securities Company (SHS) believed that, in the next trading week from November 29 to December 3, VN-Index might continue to move towards 1,500 points. This unit recommended that investors should buy when the market surpasses the old peak of 1,420-1,425 points and buy more when the market tests the psychological support level of 1,450 points, taking profits on part of the portfolio last week. They should then maintain the ratio of stock at moderate at the moment.

By Hoài Anh/Thanh Thuy

Related News

Five solutions for developing stock market in 2025

Five solutions for developing stock market in 2025

VCN - On February 5, 2025, at the Gong-beating ceremony to open the stock trading at the Ho Chi Minh City Stock Exchange (HOSE), Deputy Minister of Finance Nguyen Duc Chi introduced five solutions for comprehensive development of the stock market.
Vietnam

Vietnam's stock market to develop strongly and sustainably

VCN - This was emphasized by Minister of Finance Nguyen Van Thang at the Conference to review the work of 2024 and deploy the work of 2025 of the State Securities Commission (SSC) held on the afternoon of December 18.
The capital market will see positive change

The capital market will see positive change

VCN – Vietnam’s capital market has more balanced, harmonious and sustainable. However, besides the achievements, the market still faces many potential challenges. In order for the capital market to become an effective and sustainable capital mobilization channel, further improving the quality of goods and diversifying investors in the market is a key direction.
Transparency evates the standing of listed companies

Transparency evates the standing of listed companies

VCN - According to the Hanoi Stock Exchange (HNX), the number of companies placed under warning, control, or restricted trading on the listed and registered markets has increased over the past two years compared to 2022.

Latest News

Personal income tax proposed for interest on some bank savings accounts

Personal income tax proposed for interest on some bank savings accounts

Instead of the current personal income tax exemption on interest from all individual bank savings accounts, the proposal would exempt tax only for low amounts of savings.
Banks set for aggressive bond issuance in 2025 to fuel growth

Banks set for aggressive bond issuance in 2025 to fuel growth

With a higher credit growth goal set by the SBV, banks are ramping up their efforts to secure funding through bond issuance.
Central bank cuts interest rate on bills for first time in 2025

Central bank cuts interest rate on bills for first time in 2025

According to data from the financial data provider Wichart, the SBV issued VNĐ19.6 trillion of bills in the past week. The interest rate on the bills decreased by 0.1 percentage point, from 4 per cent to 3.9 per cent on February 14.
Focusing on inspecting inventory of public assets at units with large and complex assets

Focusing on inspecting inventory of public assets at units with large and complex assets

VCN - According to Official Dispatch No. 1456/BTC-QLCS on inspecting the preparation and implementation of the General Inventory of Public Assets recently issued by the Ministry of Finance, the inspection of the inventory of public assets focuses on units with large asset scale and large number of inventory items, complex assets, and slow implementation progress.

More News

The government seeks approval for revised GDP, CPI targets

The government seeks approval for revised GDP, CPI targets

VCN - The Government submitted to the National Assembly for consideration and comments on adjusting the target for the growth rate of gross domestic product (GDP) to 8% or more; the average growth rate of the consumer price index (CPI) to about 4.5-5%.
Fiscal, monetary policies support demand stimulation, price stabilisation

Fiscal, monetary policies support demand stimulation, price stabilisation

These efforts, in conjunction with the implementation of monetary policies and other macroeconomic policies, aim to solve difficulties for businesses and the public, stabilise the macroeconomy, control inflation, ensure the balance of the economy, promote economic growth, and secure social welfare and people’s livelihoods.
Vietnam secures VND 157 billion from state enterprise divestment in 2024

Vietnam secures VND 157 billion from state enterprise divestment in 2024

VCN - The Ministry of Finance reported that in 2024, the divestment of state capital in 5 enterprises (F1) generated VND 157 billion from an initial value of VND 145 billion
Vietnam gears up for potential inflation impact in 2025

Vietnam gears up for potential inflation impact in 2025

VCN - For sound price management and inflation control, Deputy Prime Minister Ho Duc Phoc directed officials to vigilantly track both domestic and international market dynamics. The goal is to proactively develop flexible strategies and solutions, enabling a swift response to any emerging challenges.
VN’s credit conditions in 2025 expected to be stable

VN’s credit conditions in 2025 expected to be stable

The credit conditions for Việt Nam will stabilise in 2025, after improving substantially over the past year, the rating agency VIS is forcasts.
State revenue in first month of the year equal to 14% of the estimate

State revenue in first month of the year equal to 14% of the estimate

VCN - According to the Ministry of Finance, in January - the first month of 2025, the total state budget revenue is estimated at VND275.9 trillion, equal to 14% of the estimate; meanwhile, the total state budget expenditure is estimated at VND134.4 trillion.
Securities 2025 expects a breakthrough in scale and quality

Securities 2025 expects a breakthrough in scale and quality

VCN – The positive factors inherent in the macro economy and the Vietnamese stock market will continue to create the foundation for the market to maintain stability, good liquidity, and growth in both scale and quality in the new year of At Ty 2025, Chairwoman of the State Securities Commission Vu Thi Chan Phuong said.
Cash reserves in stock accounts at six-quarter low amid margin rise

Cash reserves in stock accounts at six-quarter low amid margin rise

These funds are readily available in investor accounts, but remained undeployed as of the year-end.
Minister of Finance Nguyen Van Thang works with GDVC at the first working day after the Tet holiday

Minister of Finance Nguyen Van Thang works with GDVC at the first working day after the Tet holiday

VCN- On February 3, the first working day after the Tet holiday, Minister of Finance Nguyen Van Thang and the delegation visited and worked with the General Department of Vietnam Customs (GDVC).
Read More

Your care

Latest Most read
Personal income tax proposed for interest on some bank savings accounts

Personal income tax proposed for interest on some bank savings accounts

Instead of the current personal income tax exemption on interest from all individual bank savings accounts, the proposal would exempt tax only for low amounts of savings.
Banks set for aggressive bond issuance in 2025 to fuel growth

Banks set for aggressive bond issuance in 2025 to fuel growth

With a higher credit growth goal set by the SBV, banks are ramping up their efforts to secure funding through bond issuance.
Central bank cuts interest rate on bills for first time in 2025

Central bank cuts interest rate on bills for first time in 2025

According to data from the financial data provider Wichart, the SBV issued VNĐ19.6 trillion of bills in the past week. The interest rate on the bills decreased by 0.1 percentage point, from 4 per cent to 3.9 per cent on February 14.
Focusing on inspecting inventory of public assets at units with large and complex assets

Focusing on inspecting inventory of public assets at units with large and complex assets

VCN - According to Official Dispatch No. 1456/BTC-QLCS on inspecting the preparation and implementation of the General Inventory of Public Assets recently issued by the Ministry of Finance, the inspection of the inventory of public assets focuses on units
The government seeks approval for revised GDP, CPI targets

The government seeks approval for revised GDP, CPI targets

The Government submitted to the National Assembly for consideration and comments on adjusting the target for the growth rate of gross domestic product (GDP) to 8% or more
Mobile Version