Liệu cổ phiếu ngân hàng còn hấp dẫn?

The Vietnamese stock market experienced a volatile trading week as strong selling pressure in the final trading session wiped out most of the week's gains.

Nevertheless, the VN-Index closed the week of February 19-23 at 1,212 points, a slight increase of 0.2% compared to the end of the previous week.

Vingroup stocks were the focus of the market following news that Vinfast had been granted land in India to build a factory. Notably, VRE surged nearly 13% in just one week of trading and is currently at its highest level in almost four months. Conversely, VIC and VHM had the most negative impact on the market, with VIC alone deducting more than 2 points from the overall index.

Amidst profit-taking sentiment from investors, the average total trading volume reached 26,000 billion VND per session, a 29% increase compared to the previous week.

Notably, foreign investors returned to net buying of VND 185 billion across all three exchanges. Specifically, they net bought VND 1,688.57 billion on UPCoM, while net selling VND 39.7 billion on HNX and VND 1,463.41 billion on HoSE.

Offering advice to investors for the upcoming trading week, Mr. Ngo Quoc Hung - Market Strategy Department, MBS Securities and Mr. Dinh Quang Hinh - Head of Macro and Market Strategy Department, VNDIRECT Securities both suggested that investors should not panic and sell off shares but should observe market supply and demand developments.

The Reporter (NĐT): The correction in the last trading session of the week ended the streak of 7 consecutive days of gains from 1,172 to 1,230 points. What is your assessment of the trading developments last week?

Mr. Ngo Quoc Hung : The market is in its fourth consecutive month of upward trend, and since the beginning of the year, there have only been two weeks of slight corrections around the 1,180-point level. Although it fell sharply on the last trading day of the week, this is also the third consecutive week of gains for the VN-Index.

The market is experiencing technical profit-taking pressure at the peaks of August and September last year. Additionally, the 1,230-1,240 point range is also a technical resistance level in the uptrend since November 2023.

In my opinion, the three consecutive declining sessions, including the notable correction at the end of the week, have not yet altered the market's upward trend. However, profit-taking pressure is likely to continue, and the market may test support levels at 1,180 - 1,190 points in the coming sessions.

Mr. Dinh Quang Hinh: Profit-taking pressure intensified sharply in the last trading session of the week after the VN-Index touched the resistance zone around 1,240 points. The market's approach to a strong resistance zone and the news of sharply rising interbank interest rates in the past few sessions have made investors cautious and triggered a wave of profit-taking.

The correction was further fueled by strong net selling by foreign investors, concentrated in several large-cap stocks. Although we just experienced a fairly sharp correction, I believe investors shouldn't panic too much.

VN-Index performance during the week of February 19-23 (Source: FireAnt).

Investor : After leading the market since the beginning of the year, last week, banking stocks were a major factor in dragging down the index. Will banking stocks remain attractive in the coming period, in your opinion?

Mr. Ngo Quoc Hung : I believe that the money flow is still mainly concentrated in the banking sector. However, investors need to be selective about stocks after the past two months of increases because some stocks have passed their buying zones/points or their upside potential is no longer attractive.

In my opinion, besides the banking sector, other stock groups are also worth noting, such as securities, which have seen a significant increase in liquidity compared to the same period since the beginning of the year. Low interest rates make the stock market more attractive than other investment channels. Other groups include industrial real estate with FDI inflows and rising rental prices, public investment, chemicals, oil and gas, steel, and technology.

Since the beginning of the year, the market has risen by more than 100 points, but if investors don't choose the right stocks, their accounts still won't beat the market, and may even end up in the red.

Mr. Dinh Quang Hinh: The increases in interbank interest rates are only temporary due to "a localized liquidity shortage at a particular bank" and do not represent the overall picture of the system.

In the primary market, some banks continued to lower deposit interest rates, while credit growth across the entire system in January was negative due to the effects of the beginning of the year.

Given that credit demand is currently not high, I believe that pressure on deposit and lending interest rates will not be significant, and the recent increase in interbank interest rates is only temporary and will soon subside.

Investor: In your opinion, what will the trading trends be like next week , and what should investors do ?

Mr. Ngo Quoc Hung : For individual investors, four key factors can be applied to trading: Trend - The trend is your friend, Choice - Choosing the right stock is more important than effort, Point - Patiently waiting for the market to reach a buying zone/point, making decisive buy/sell decisions to create trading positions at the right time, and Quit - Knowing when to stop is the mark of a true hero!

Each investor's trading results provide the most valuable information about their strengths and weaknesses; use this to find the right strategic advantage.

Mr. Dinh Quang Hinh: From a technical analysis perspective, the market has not yet lost its short-term upward trend as the VN-Index is still trading above the MA20 line, and the 1,190 - 1,200 point range will be the market's support zone.

Therefore, investors should not panic and sell off stocks, but should observe the supply and demand dynamics in the support zone of 1,190 - 1,200 points. At the same time, investors should not open new buying positions yet, as the market has just experienced a volatile session and needs to find a point of equilibrium .

Source: https://www.nguoiduatin.vn/lang-kinh-chung-khoan-26-2-lieu-co-phieu-ngan-hang-con-hap-dan-a651229.html