The sell-off has opened up opportunities to accumulate high-quality stocks.

The stock market experienced a volatile trading week. After a few recovery sessions, the VN-Index faced a sudden sell-off, falling 0.44% compared to the previous week to 1,236.6 points. The HNX-Index closed the week at 231.56 points, down 2.15%.

Liquidity on both exchanges improved this week compared to the previous trading week, with trading volume increasing by 8.95% on HOSE and 18.9% on HNX. Foreign investors returned to net selling on HOSE with 400 billion VND, continuing to focus on VHM (-120 billion VND), VIC (-994 billion VND), CTG (-145 billion VND), and PDR (-119 billion VND)... Conversely, they net bought VNM (+990 billion VND) and MWG (+259 billion VND)...

The sectors that contributed positively to the market's gains this week were food and beverages, notably VNM (+8.66%), HAG (+0.41%)... The oil and gas sector reacted to Middle East tensions with gains from BSR (+1.82%), PVC (+0.72%), OIL (+2.76%)... On the other hand, several other sectors saw declines, including telecommunications, securities, chemicals and fertilizers, and steel...

According to observations from SHS Securities Company, the sharp declines in the past two trading sessions showed a short-term shakeout for speculative and highly leveraged positions, opening up opportunities to accumulate high-quality stocks. In the short term, the market started August with a gap in corporate information following the release of Q2 reports. Therefore, the market will heavily depend on the growth prospects of large-cap companies and GDP growth.

Short- and medium-term investors should maintain a reasonable, average portfolio allocation and consider reducing their holdings in stocks with disappointing Q2 2024 earnings or those exceeding stop-loss levels. They should shift their portfolios towards leading companies with strong fundamentals and promising business growth exceeding expectations. New purchases should be made at reasonable prices in leading companies with solid fundamentals, based on Q2 growth and strong growth expectations for the end of the year.

Vietcombank Securities (VCBS) forecasts a high probability that the VN-Index will continue to rise slightly before experiencing further volatility. Investors should take advantage of recovery sessions to restructure their portfolios, removing stocks that have fallen below stop-loss levels or failed to maintain support levels. Only retain stocks that are recovering in line with the market in a small proportion to more effectively mitigate risk. At a time when technical indicators are not yet fully aligned regarding the market trend, investors should be cautious before making investment decisions and should avoid using margin in trading.

Source: https://laodong.vn/kinh-doanh/nhip-ru-bo-da-mo-ra-vi-the-tich-luy-co-phieu-chat-luong-tot-1375347.ldo