Stocks continue to rise?

Mr. Dinh Quang Hinh, head of macro and market strategy at VNDirect Securities Company , commented that the stock market will continue to recover next week thanks to positive supporting information. Accordingly, the Government's issuance of Decree 08 on corporate bonds at the end of last week helped to remove some bottlenecks in the corporate bond market. Receiving this information, money flowed into real estate stocks from the beginning of the week and helped the stock indexes improve.

In addition, information about the Fubon ETFs fund being approved to increase capital and China adding Vietnam to the pilot list to open group tourism from March 15 has further strengthened the positive sentiment of the market.

Next week, important information will come from the portfolio restructuring activities of foreign ETFs such as VNM ETF and FTSE ETF, and the disbursement activities of Fubon ETFs after successful capital raising. VNDirect experts expect strong foreign capital to net buy next week and be a factor to keep the market in rhythm.

"We estimate that VNM ETF and Fubon ETF funds can net buy more than VND6,000 billion in the Vietnamese stock market in the next 1-2 weeks. In that context, the VN-Index can maintain the recovery trend and move towards the old resistance zone around 1,070 - 1,080 points," said Mr. Hinh.

Stocks continue to thrive? - 1 — VN-Index is forecast to continue to maintain its recovery trend in next week's trading session.

According to VNDirect Securities experts, during the market's upward movement, there may be some shaky sessions due to concerns about the US Federal Reserve (Fed) tightening monetary policy at its meeting in March. However, the recovery trend will still be the main one.

"Investors can consider increasing the proportion of stocks during short market corrections. Prioritize disbursement into groups of stocks with supporting stories such as large net purchases by ETFs, China's opening up and public investment," expert Dinh Quang Hinh recommended.

According to experts at Dong A Securities (DAS), the world stock market fell due to concerns that the Fed might raise interest rates at a higher rate than previously forecast, leading to lower valuations of risky assets due to discounting future cash flows at higher interest rates. The VN-Index was under selling pressure during the weekend session but recovered at the end of the day when some large-cap stocks increased, keeping the VN-Index close above the 1,050 point mark. The 20-point increase in the week marked a market recovery, along with a gradual improvement in liquidity.

"VN-Index is likely to trade within the range of 1,030-1,080 points next week, with a sideways accumulation trend. Investors participate in short-term trading on securities, steel, and small and medium-cap real estate stocks; at the same time, disburse funds for medium-term investment portfolios, paying attention to electricity stocks, industrial park stocks, and public investment stocks," the DAS report stated.

Similarly, analysts at Vietcombank Securities (VCBS) believe that the VN-Index will tend to increase in the coming week. Accordingly, the VN-Index ended the week forming a doji candlestick pattern, showing hesitation in investor sentiment at the resistance zone. In terms of the hourly chart, selling pressure appeared, causing the VN-Index to lose steam and the two indicators MACD and RSI showed signs of peaking, indicating that the market may fluctuate in the coming sessions under profit-taking pressure from T+.

However, on the weekly chart, VN-Index is still sticking to and above the MA20 moving average. In addition, the DI+ indicator on the weekly chart is also pointing up positively, indicating that in the medium term, VN-Index will still have a tendency to increase points towards the upper area.

Therefore, VCBS recommends that investors continue to maintain their stock positions but need to closely follow the market and have a plan to realize partial profits for stocks whose uptrend has begun to show signs of weakening in recent sessions, while limiting new disbursements before the VN-Index succeeds in breaking out of the current resistance zone around 1,050 points.

Asean Securities (Asean SC) said the market recorded a slight decrease at the end of the week, in the context of a fairly low liquidity and at the 20-session average, showing that buyers and sellers are struggling and the upward momentum is showing signs of slowing down. Therefore, Asean SC believes that the market will likely need to accumulate more before having a clearer trend.

"In the next trading session, it is forecasted that there will be a tug-of-war between buying force at support 1,045 - 1,050 points and selling force at resistance 1,055 - 1,060 points, before there is a clearer trend distinction towards the end of the day," Asean SC report stated.

At the end of the trading session on March 10, VN-Index decreased by 2.95 points to 1,053 points. Trading volume reached more than 508.5 million units, equivalent to more than VND 8,745 billion. The entire floor had 135 stocks increasing in price, 256 stocks decreasing in price and 58 stocks remaining unchanged.
HNX-Index decreased by 1.17 points to 207.86 points. Trading volume reached more than 66.3 million units, equivalent to nearly 999 billion VND. The entire floor had 59 stocks increasing in price, 102 stocks decreasing in price and 57 stocks remaining unchanged.
UpCOM-Index increased by 0.23 points to 76.83 points. Trading volume reached more than 41.4 million units, equivalent to nearly 541.3 billion VND. The whole floor had 161 stocks increasing in price, 141 stocks decreasing in price and 104 stocks remaining unchanged.

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