Short-term buying opportunity

Người Đưa Tin•29/02/2024

Investment analysis

KB Securities Vietnam (KBSV) : KBSV assesses that a reversal signal has appeared with a slowdown in demand after briefly surpassing the short-term peak, forming a typical bull trap, accompanied by increased liquidity, signaling the possibility of a short-term market correction.

Although the VN-Index is likely to continue facing volatility around the 1,250 (+/-5) level, demand is expected to rebound around nearby support zones.

Saigon - Hanoi Securities (SHS) : From a short-term perspective, the VN-Index is likely to continue experiencing erratic movements in the near future as it is trading at a strong resistance level around 1,250 points.

SHS believes the market needs strong pullbacks and consolidation before it can move towards higher price levels.

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The Ministry of Finance denies information that a 0.1% tax will be levied on the buying and selling of gold bars starting July 1st.(PLVN) - According to the Ministry of Finance, the information that from July 1, 2026, the buying and selling of gold bars will be subject to personal income tax at a rate of 0.1% on each transaction is inaccurate. The collection of tax on this activity is still under study as part of the overall policy for managing the gold market.

Stocks rose 33 points on June 22nd, driven by shares of Vingroup.SKĐS - Vingroup's shares such as VIC and VHM saw positive growth, helping the VN-Index rise by 33.38 points on June 22nd.

Increased profit-taking pressure caused the VN-Index to reverse and fall.Increased profit-taking pressure as the VN-Index approached a strong resistance zone narrowed the upward momentum, forcing the market into a period of volatility.

From a medium-term perspective, the market is currently moving towards forming a broad medium-term accumulation channel in the 1,150 - 1,250 point range. Currently, the VN-Index has approached the upper resistance level of this accumulation channel.

Yuanta Securities Vietnam (YSVN) : The market may continue its upward trend, with the VN-Index heading towards 1,268 points in the next trading session.

At the same time, downward pressure is showing signs of increasing as bearish divergence is forming on technical indicators, so if the VN-Index fails to break through the resistance level of 1,268 points in the March 1st session, investors should temporarily stop making new purchases.

However, YSVN assesses that opportunities for new purchases in the short term continue to increase.

Stock market news brief

- Vietnam recorded a trade surplus of US$4.72 billion in the first two months of the year. According to the socio -economic report published by the General Statistics Office, in February 2024, the total value of goods exports and imports was estimated at US$48.54 billion, a decrease of 25.8% compared to the previous month and a decrease of 1.8% compared to the same period last year.

United States - Vietnam: Don't miss

Vietnam encourages US businesses to expand investment in high technology.On the morning of June 26th, at the Government Headquarters, Deputy Prime Minister Ho Quoc Dung received Mr. Jeff Place, Supply Chain Director of Coherent Group (USA). During the meeting, the Deputy Prime Minister affirmed that Vietnam encourages US businesses to expand investment, especially in high-tech, innovation, and semiconductor industries.

Encourage U.S. businesses to expand investment in high-tech sectors.Deputy Prime Minister Ho Quoc Dung said that Vietnam welcomes US businesses to continue expanding their operations in Vietnam, especially in high-tech industries and sectors with high added value.

Vietnam and the United States strengthen cooperation in addressing the consequences of war.VTV.vn - On June 22, General Secretary and President To Lam received Acting Secretary of the US Navy Hung Cao.

In the first two months of 2024, the total value of goods exports and imports is estimated at US$113.96 billion, an increase of 18.6% compared to the same period last year, with exports increasing by 19.2% and imports increasing by 18%. The trade balance showed a surplus of US$4.72 billion (compared to a surplus of US$3.5 billion in the same period last year). Specifically, the domestic economic sector had a trade deficit of US$3.53 billion, while the foreign-invested sector (including crude oil) had a trade surplus of US$8.25 billion.

- Increased demand for Tet (Lunar New Year) shopping and high rice prices pushed the CPI in February up 3.98% year-on-year. Accordingly, the CPI in February 2024 increased by 1.04% compared to the previous month; increased by 1.35% compared to December 2023 and increased by 3.98% compared to the same period in 2023. On average, for the first two months of 2024, the CPI increased by 3.67% year-on-year; core inflation increased by 2.84% .

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