In terms of impact, the trio of Vingroup stocks, including VIC, VHM and VPL, had the most positive contribution during the week, pulling the VN-Index up by about 4 points. On the contrary, banking stocks such as VCB, TCB, BID, HDB and LPB exerted significant pressure, taking away nearly 3 points. This development reflects the trend of cash flow rotation to groups with lower risk levels in the context of foreign capital flows and market sentiment remaining cautious.
Each industry group showed a clear differentiation. Communication services was the industry with the sharpest decline, with VGI, FOX and CTR all falling. The energy and consumer staples group adjusted broadly with codes BSR , PLX, PVS, PVD, PVT; MCH, VNM, MSN and PAN falling by around 1-2%.
On the contrary, information technology became the leading group thanks to the increase ofFPT , VEC and DLG. Some real estate stocks recorded a positive trading week such as VHM, CEO, NVL, NBB, NLG, SCR and HQC; although there were also corrections of KBC, DXG, PDR, VPI and SZC with relatively high liquidity.
Last week, foreign investors net sold nearly VND2,000 billion in the whole market, mainly on the HOSE; the HNX recorded a slight net buying. In the context of matched liquidity remaining below the average level for many weeks, this development shows the cautious sentiment of large cash flows.
According to Mr. Nguyen Tan Phong, analyst of Pinetree Securities Vietnam Company: “Although VN-Index has had two consecutive weeks of recovery after the sharp decline in October, the index is still in the sideways range of 1,580-1,680 points and there is no sign of confirming a new trend. The liquidity maintained at a low level makes the recovery momentum doubtful.”
Experts from Pinetree Vietnam Securities Company also said that if there is a trading session with strong liquidity early next week but the VN-Index cannot surpass the resistance zone of 1,670-1,680 points, the market will likely return to test the 1,580 point zone.
In its weekly strategy report, MB Securities Company (MBS) also stated that the cash flow in the market has not really returned, as shown by the liquidity decreasing by more than 20% compared to last week. MBS said that the main driving force for the increase came from stocks with many supporting factors such as securities, chemicals, construction-materials and logistics, while institutional investors still maintained an observational status.
Sharing the same view, the Research Center of Vietcombank Securities Company (VCBS) assessed that cash flow tends to shift to industry groups with separate profit expectations, in which real estate, chemicals and construction are noted to attract stable demand. VCBS recommends investors maintain a reasonable proportion in stocks in an uptrend and only increase their positions when the market has a breakout session with improved liquidity.
Trading developments last week showed that the market's recovery still lacked consensus. Low liquidity, foreign investors' caution and strong differentiation between industry groups continued to be the dominant factors. Investors are advised to limit chasing purchases and closely monitor the 1,670-1,680 point area to identify clearer signals about the market trend.
Source: https://nhandan.vn/thi-truong-phan-hoa-chi-so-chung-van-giu-sac-xanh-post925092.html
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