Should we take advantage of this opportunity to lock in profits?

Investment analysis

KB Securities Vietnam (KBSV) : The VN-Index is likely to continue experiencing volatility in the coming sessions as buyers remain somewhat passive, and the risk of large distribution sessions should be noted if the index experiences strong bull traps.

Investors are advised to avoid chasing rallies and prioritize restructuring their portfolios to safe levels.

Asean Securities (Aseansc) : The market's performance so far has been reasonable; however, short-term risks remain, with the possibility of bull traps in the coming sessions.

Therefore, Aseansc maintains its recommendation for investors to exercise caution, refrain from opening new buy positions, and consider taking profits in the current environment.

Vietcombank Securities (VCBS) : In a positive scenario, the VN-Index will consolidate sideways, but the probability of strong fluctuations in some sessions remains.

VCBS recommends that investors take profits on stocks that have seen good gains recently, maintaining a reasonable stock allocation below 60% to minimize short-term risk.

Stock market news brief

- The world's experiment with negative interest rates has ended. On March 19, 2024, the Bank of Japan (BOJ) raised interest rates for the first time in 17 years, bringing rates back to positive after eight years of negative rates.

In a move anticipated by the media and financial markets, Bank of Japan Governor Kazuo Ueda announced an increase in short-term interest rates from -0.1% to approximately 0-0.1%. Simultaneously, the yield curve control (YCC) policy, aimed at keeping long-term interest rates – the yield on 10-year Japanese government bonds – around 0%, was also lifted.

- The world's second-largest economy unexpectedly received good news after releasing a series of new data. A Caixin survey showed that China's manufacturing activity in March saw its strongest growth in over a year. This indicates that the world's second-largest economy is experiencing relatively stable growth.

The Caixin China Purchasing Managers' Index (PMI) in March reached 51.1 points – its strongest level since February 2023 and up from 50.9 in February. This is attributed to the increasing number of new orders from both domestic and international customers .

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