In the morning session of June 3, the increase spread to many groups of stocks, not just focusing on a few groups. In the VN30 stock basket, there were 26 stocks increasing in price.
At the end of the morning session on June 3, VN-Index increased by more than 9 points to 1,345.33 points. Trading volume reached nearly 526 million shares, equivalent to nearly 11,929 billion VND. The entire floor had 189 stocks increasing in price, 121 stocks decreasing in price and 42 stocks remaining unchanged.
HNX-Index increased by 2.08 points to 228.25 points. Trading volume reached more than 72.5 million shares, equivalent to nearly 1,340 billion VND. The entire floor had 74 stocks increasing in price, 50 stocks decreasing in price and 61 stocks remaining unchanged.
UPCOM-Index increased by 0.97 points to 99.33 points. Trading volume reached more than 36.1 million shares, equivalent to more than 358.2 billion VND. The entire floor had 147 stocks increasing in price, 57 stocks remaining unchanged, and 78 stocks decreasing in price.
The positive point in the morning session of June 3 was that the increase spread to many groups of stocks, not just focusing on a few groups. Accordingly, the VN30 stock basket had 26 stocks increasing in price, 2 stocks decreasing in price and 2 stocks remaining unchanged.
Stock groups in banking, insurance, oil and gas, chemicals, construction and materials, information technology, telecommunications, securities, real estate, etc. performed very positively, with green being the dominant color.
Commenting on the market developments in June, VNDIRECT Securities Joint Stock Company (VNDIRECT) said that the market's P/E (price-to-earnings ratio) is attractive considering expectations of strong profit growth in 2025.
The impressive recovery of VN-Index from late April to May has brought the market P/E back to near the beginning of the year level, around 12.9 times. However, the valuation is still quite attractive with a 16% discount compared to the average P/E of 10 years.
Despite the challenges from the US reciprocal tax, VNDIRECT forecasts that the EPS growth (earnings after tax of a company distributed per common share outstanding on the market) of companies listed on HOSE will increase by about 12-17% in 2025, depending on tax scenarios. This reinforces the forecast that the forward P/E (P/E ratio based on projected profits) of VN-Index for 2025 will fluctuate in the range of 11-11.5 times.
In the short term, market accumulation is necessary to absorb cheap supply and establish a new price level to gather enough support and momentum for a breakthrough to overcome this important resistance zone. This is also a strategic time for investors to restructure their portfolios, take profits from stocks that have increased rapidly and shift to sectors with attractive valuations that have not fully recovered to the level before the April 2 session.
Notable opportunities are concentrated in the securities, steel and export enterprises in the textile and seafood industries, as supporting factors may appear in the coming time.
VNDIRECT maintains three scenarios for the market in 2025, with the target of VN-Index reaching 1,400 points in the base scenario.
In an optimistic scenario, the VN-Index could surpass the 1,500-point mark if Vietnam successfully negotiates with the US to reduce reciprocal taxes to below 20% or drastically cuts interest rates to boost economic growth./.
Source: https://baolangson.vn/dong-tien-vao-manh-thi-truong-chung-khoan-ngap-sac-xanh-5049014.html
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