Is the adjustment process still ongoing?

Investment analysis

Asean Securities (Aseansc) : The VN-Index is still trading in a short-term downtrend. Closing prices are lower than most opening prices in recent sessions. Both the MA20 and MA10 lines are trending downwards, indicating a short-term bearish trend.

The market recorded a recovery session after the absence of significant selling pressure; however, buying demand was not very strong, merely testing the waters. Investors should still pay attention to the market's price reaction from the nearest resistance level, which is the previous gap zone of 1,260 - 1,280 points.

Aseansc maintains its recommendation for investors to hold a low proportion of stocks, continuing to wait for further testing before making new purchases.

Shinhan Securities Vietnam (SSV) : At the close of trading on April 9th, the VN-Index rose thanks to blue-chip stocks such as banks and securities companies. However, buying pressure remained cautious. The downward sloping MACD indicates that the correction process is still ongoing.

The strategy is for investors to reduce their stock holdings and deal with stocks that are violating technical patterns. Maintain a watchful stance and avoid rushing to open new positions.

BIDV Securities (BSC) : In the upcoming trading sessions, the market may continue its upward momentum to the 1,270 - 1,275 point range; however, it may face profit-taking pressure there. Liquidity in today's recovery session was weak, so investors should trade cautiously in the coming sessions.

Stock market news brief

Investors and experts are losing hope that the Fed will cut interest rates quickly this year. Investors and economists are scaling back bets on the Federal Reserve lowering interest rates this year, as stronger-than-expected economic data reinforces the argument that the central bank will have to keep interest rates higher for longer to combat inflation.

Currently, the market generally believes the Fed will only cut interest rates twice in 2024, and the probability of a third rate cut this year is only 50%. Earlier this year, the market expected the Fed to cut interest rates 5-6, or even up to 7 times this year.

- The wind is turning in monetary policy: When will the era of "cheap money" return? The Swiss Central Bank (SNB) unexpectedly decided to cut interest rates. The SNB's action could trigger further monetary easing moves from other central banks. Switzerland has reduced its policy interest rate by 25 basis points to 1.5%.

This move contradicts economists' predictions of keeping interest rates unchanged. Swiss inflation continued to fall in February, reaching 1.2%. "Over the past few months, inflation has returned below 2% and is within the SNB's control range. According to the new forecast, inflation could remain at this stable level for the next few years," the SNB emphasized .

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