The rise of pharmaceutical and electricity stocks saved the market from a state of tension at the beginning of the session, the liquidity somewhat cooled down but remained at a good level.
Ending the session on July 9, VN-Index increased by 6 points, or 6,21%, to 0,56 points. The whole floor had 1.107,53 gainers, 190 losers and 191 standstill stocks.
HNX-Index rose 0,82 points, or 0,36%, to 227,60 points. The whole floor had 84 gainers, 86 losers and 68 standstill stocks. UPCoM-Index increased 0,17 points to 84,19 points. The VN30 basket alone recorded 17 gainers.
The total matched value of the whole market reached 19.392 billion dong, down 30% compared to the previous session, of which, the matched value on HoSE alone decreased by 30% to 16.526 billion dong. In the VN30 group, investors changed hands with VND 5.643 billion.
Investment Review
VCBS Securities: From a technical perspective, VN-Index ended the week creating a hammer candle thanks to the demand near the end of the session. In terms of daily chart, the RSI tends to increase again, but it is still at a high level, so the probability of forming 2 peaks creating negative divergence reversing at the top still needs to be taken into account.
VCBS recommends that investors consider realizing partial profits to maximize risk management in the short-term, especially when the market is still shaking and volatile at the short-term resistance area.
BOS Securities: Technically, VN-Index dropped and recovered strongly at the end of the session, which is a positive signal. Especially when the index closed above short-term MA5 with high volume. However, the volume still decreased by nearly 31% compared to yesterday's strong selling, showing that the uptrend is uncertain again. Investors should consider taking profits to reduce the portfolio, not buying new when the score is near a strong resistance level.
Rong Viet Securities: With a supportive move, it is likely that the market will retest the supply at 1.110 – 1.115 points in the next session. If the supply in this area has a move to cool down and the market can still continue the trend gradually towards the resistance area around 1.125 points.
Therefore, investors can hold or exploit short-term opportunities in stocks with good technical signals and attracting cash flow. However, it is necessary to consider taking profits at stocks that have increased rapidly to the resistance zone or are under selling pressure from the resistance zone to realize the results.
Stock news
– Inflation in China remained low in May 5, as the world's second-largest economy recovered slowly because of weak demand and a sharp drop in exports. China still maintains low interest rates, while most major countries raise interest rates sharply to combat inflation.
During the week, Canada and Australia shocked to raise interest rates again. In May 5, China's producer price index (PPI) fell 2023% year-on-year, stronger than the 4,6% drop in April 3,6 and the sharpest decline in 4 years. Economists polled by Reuters had forecast a 2023 percent drop in PPI.
– According to the Ministry of Finance, although the domestic revenue in the first 5 months of the year is quite good compared to the estimate, it is in a downward trend, January revenue reached 1%; February reached 14,7%; March reached 2%; April reached 7,7%; estimated implementation in May reached 3% of the estimate. Regarding revenue in the area, according to the Ministry of Finance, it is estimated that 8,9/4 localities have collected domestic revenue in 9,9 months, reaching over 5% of the estimate; 6,4/17 localities have revenue growth over the same period, while 63 provinces have lower revenue than the same period.
Along with that, import and export activities in May continued to decline; The accumulated export and import turnover of taxable goods as of May 5, 15 reached about USD 5 billion, down 2023% over the same period in 45,5. Regarding state budget expenditure, 19 months reached VND 2022 trillion, equaling 5% of the estimate, up 653,1% over the same period in 31,5..
