Vietnam's stock market faces the opportunity to set a new peak after an explosive trading week.

The trading week from October 6 to October 10 left many important marks on the Vietnamese stock market after the FTSE Russell rating organization officially upgraded Vietnam to the "secondary emerging" group.

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In particular, the launch of the VN100 Futures Contract created a strong push, helping the VN-Index break through more than 100 points compared to last week and opening up expectations of reaching new heights in the near future.

Right from the beginning of the week, the market reacted positively to the upgrade expectation, VN-Index jumped nearly 50 points in the session of October 6. On October 8, when the official information was announced, selling pressure appeared, causing the index to fluctuate, but the cash flow quickly returned at the end of the session. The last two sessions of the week continued to maintain the exciting momentum, bringing VN-Index to end the week at 1,747.55 points, up more than 100 points compared to 1,645.82 points last week.

The biggest growth driver came from Vingroup stocks (VIC, VHM, VRE, VPL) with a contribution of more than 45 points. Along with that, the banking group improved in the last two sessions of the week, further strengthening the index.

Real estate also recovered despite the market receiving a draft to tighten credit for second and third home purchases. Average liquidity was about VND35 trillion per session, lower than the peak period in July and August, reflecting that cash flow was mainly concentrated in pillar stocks.

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Along with the upgrade information, on October 10, the Ho Chi Minh City Stock Exchange organized the launch of the VN100 Futures Contract. This new product not only expands investment and risk prevention tools but also contributes to increasing the depth of the derivatives market. This is the next step in the effort to develop a synchronous and sustainable capital market.

Commenting on the upcoming prospects, Mr. Dinh Viet Bach, a securities analyst at Pinetree Vietnam Securities Company, said: “The trend next week will continue to explode to set a new era peak. Vingroup and banking stocks will play a leading role, while cash flow can rotate to stocks, real estate, steel and public investment to help the growth momentum be more sustainable. The approaching third quarter financial reporting season will be an important catalyst, and the derivatives maturity week is likely to continue to attract cash flow into pillar stocks.”

Overall, the boost from the market upgrade and new derivatives products has strengthened investor confidence. However, as the index is approaching its old peak, volatility may increase in the short term, especially when liquidity has not really spread widely. In that context, maintaining trading discipline and reasonable capital allocation are still important factors to ensure investor safety.

From the current positive foundation, the Vietnamese stock market has the opportunity to set new milestones. If the cash flow continues to spread to many sectors, the growth momentum will be more sustainable, contributing to the increasingly solid development of our country's capital market.

TIEN TRUNG

Source: https://nhandan.vn/thi-truong-chung-khoan-viet-nam-truoc-co-hoi-xac-lap-dinh-moi-sau-tuan-giao-dich-bung-no-post914630.html