Investment Comments
KB Securities Vietnam (KBSV) : VN-Index experienced a trading session with fluctuations as the main trend. The weakness appeared more clearly in some pillar stocks and leading industry groups in the recent uptrends, causing the cash flow to lose its excitement, showing more caution. Demand also moved relatively differently when it only increased in individual small and medium-cap stocks, which had not increased in the previous period.
According to KBSV, although the risk of a short-term correction is still present, the upward momentum is expected to return soon in the coming sessions.
Investors are recommended to buy back in parts when individual target codes return to notable support zones or the index turns down to the support point around 1,170 points (+/-10 points).
BIDV Securities (BSC) : After a steep increase, profit-taking pressure is gradually becoming more evident, but overall liquidity is still supporting the VN-Index's upward momentum. The fluctuating trend may continue in the coming sessions as the index returns to the resistance level of 1,250 points.
Tien Phong Securities (TPS) : Information that the whole system's credit growth decreased by 0.6% compared to the end of 2023, along with the deposit and lending interest rates continuing to decrease, will affect market sentiment.
In the short term, in the optimistic scenario, VN-Index may continue to increase to the 1,250 - 1,280 point range before a correction appears.
In a more cautious scenario, the index may retest the strong resistance zone of 1,235 points. If it fails to surpass this level, the possibility of the index reversing and retesting the support level of 1,160 - 1,180 points will be quite high.
Stock news
- Vietnam is the second largest supplier of fishmeal to China. According to the Vietnam Association of Seafood Exporters and Producers, in 2023, China imported 1.65 million tons of fishmeal from countries around the world , down 9% compared to 2022. Of which, China imported nearly 262,000 tons of fishmeal from Vietnam with a value of 425 million USD, up 24% in volume and 48% in value. Vietnam is the second largest supplier of fishmeal to China, after Peru.
- Gasoline prices have turned downward. E5RON92 gasoline is no higher than VND22,475/liter (down VND356/liter compared to the current base price), lower than RON95-III gasoline by VND1,124/liter. RON95-III gasoline is no higher than VND23,599/liter (down VND320/liter compared to the current base price). Diesel 0.05S is no higher than VND20,910/liter (down VND451/liter compared to the current base price) .
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