VN-Index reached 1,209 points.

The week following the 2024 Lunar New Year was positive, with the VN-Index maintaining an upward trend and trading above the psychological resistance level of 1,200 points. At the close of trading, the VN-Index rose 7.2 points (+0.60%) to 1,209.70 points.

The market continued its positive trend, with active trading as the VN-Index surpassed the psychological 1,200-point mark. At the close, the VN-Index rose 7.20 points (+0.60%) to 1,209.70 points, exceeding the previous session's high and heading towards the 1,211-point range, corresponding to the highest price of 2018.

However, the nearest support level at 1,200 points has not been tested, therefore new buying opportunities should prioritize corrections to find the most optimal entry point.

The HNX-Index rose 0.29 points (+0.13%) to 233.04 points. Market breadth on both exchanges remained positive, but with greater divergence: 390 stocks increased in price (11 hit the ceiling price), 269 decreased (6 hit the floor price), and 139 remained unchanged. Trading volume on both exchanges reached VND 19,488.33 billion, down 5.48% from the previous session, exceeding the average, with short-term capital continuously shifting across stocks.

Of particular interest is Directive No. 06 dated February 15, 2024, issued by the Prime Minister. The Prime Minister requested the Ministry of Finance to take the lead and coordinate with the State Bank of Vietnam and the Ministry of Planning and Investment to promptly address obstacles within their respective areas of responsibility to meet the criteria for upgrading the stock market from frontier to emerging market status. The Prime Minister requested the Ministry of Finance to report the results of this implementation to the Prime Minister before June 30, 2024.

The upward momentum, driven by the banking and large-cap sectors, remained strong. The smooth rotation of leadership roles within these groups provided a good foundation for the index during periods of correction. Following the banking sector, stocks in the VN30 that hadn't risen significantly before traded very positively today. Notable examples include GVR (+6.81%), VNM (+3.55%), VIC (+3.29%), BVH (+2.91%), etc., while the banking sector continued to show divergence, with most stocks under pressure after strong gains, such as HDB (-1.48%), STB (-1.44%), LPB (-1.37%), BID (-0.82%), etc.

Leading stocks like VIC and VHM had a positive impact on real estate stocks, with most experiencing strong gains such as NRC (+8.70%), FIR (+7.00%), CRE (+5.11%), SCR (+3.62%), etc.

Meanwhile, industrial real estate and rubber stocks, after the previous session's correction pressure, recovered well, with many continuing to surpass their recent peak prices, and liquidity increasing significantly, including GVR (+6.81%), DPR (+2.95%), SIP (+2.56%), PHR (+2.41%)... Steel, construction, and building materials stocks mostly experienced slight correction pressure, with liquidity decreasing sharply compared to the previous session, such as NKG (-0.61%), HPG (-0.21%)... PC1 (-2.02%), CTD (-1.04%), KSB (-1.00%)...

Foreign investors recorded their second consecutive net selling session after the Lunar New Year holiday, with VNM and STB being the two stocks most heavily sold, with values of VND 122.9 billion and VND 119 billion respectively. On the buying side, this group was quite cautious in their disbursements, with DIG being the most purchased stock with a value of just over VND 55 billion.

HSC Securities believes that, in a positive scenario, capital flows may continue to spread to undervalued stocks, accepting higher levels of risk in search of opportunities. Therefore, new purchases require more sophisticated position management as market risk increases. Fundamental business factors combined with a tight base price point for buying, strict control of margin leverage, and stop-loss levels are the preferred actions when participating in the market at this time.

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