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Stock market commentary 7-11: Public investment stocks accelerating?

Người Lao ĐộngNgười Lao Động10/07/2023


Nhận định chứng khoán 11-7: Nhóm cổ phiếu đầu tư công tăng tốc? - Ảnh 1.

At the end of the session on July 10, the VN-Index increased by nearly 11 points, equivalent to 0.96% to 1,149 points.

Although the VN-Index opened in the green on July 10, it only traded with an increase of about 3-5 points. This trend continued in the first half of the afternoon session, before some banking stocks accelerated to increase points, especially BID (+6%) and TCB (+1.5%)...

Along with the above stocks' breakout, the group of large-cap stocks (VN30) responded strongly, typically MSN, MWG, VIC, VNM. Notably, after a strong increase in the last session of last week, VCB shares today decreased by 2.2%, contributing to restraining the market's upward momentum.

At the end of the session, the VN-Index increased by nearly 11 points, equivalent to 0.96% to 1,149 points, liquidity on the HOSE floor reached more than 879 million shares, equivalent to 18,412 billion VND. Similarly, the HNX-Index closed at 228 points, up 2.55 points (+1.13%).

VCBS Securities Company believes that the VN-Index will need a short-term accumulation period to create a stable price level, to consolidate the upward trend. Therefore, short-term swing traders can disburse stocks that have not increased strongly in price, prioritizing stocks with average capitalization in the oil and gas, securities and stocks that benefit from public investment activities.

According to Mr. Nguyen Huy Phuong, Deputy Head of Investment Consulting for Individual Clients, Rong Viet Securities Company (VDSC), the market has surpassed the resistance zone of 1,140 - 1,145 points of VN-Index thanks to not too much supply pressure. With this signal of overcoming the resistance, the market is likely to continue to increase in the next session, but the development will be slow and there will be a state of supply and demand dispute.

"Therefore, investors still need to observe market developments to assess cash flow efforts, and can hold or exploit short-term opportunities in stocks that are showing signs of accumulation. As for stocks that are under selling pressure and have bad developments, they should consider taking profits or reducing the proportion to rebalance the portfolio," Mr. Phuong recommended.

Head of Investment Consulting Department of Thanh Cong Securities Company (TCSC) - Mr. Nguyen Thanh Trung said that the market is moving towards reasonable stock valuation. Many stocks have been priced appropriately, while many speculative stocks have increased in price many times. Therefore, investors need to carefully select stocks. Three factors that can lead to risks are the business results of the second quarter of 2023, exchange rate pressure and the maturity of corporate bonds.



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