VN-Index reaches historic milestone of 1,600 points
On the morning of August 11th, the Vietnamese stock market reached a new milestone as the VN-Index temporarily closed at 1,600.41 points, up more than 15 points from the previous session. The VN30 index also surged to 1,745 points, adding more than 16 points, while the HNX-Index reached 274.8 points. Trading value on the HOSE exceeded 24,400 billion VND, although liquidity did not increase dramatically compared to recent sessions.
This is the highest point in history, continuing a rally that has lasted for many months, pushing market sentiment to a climax but also creating emotional rollercoasters for investors.
The VN-Index reached a historic milestone of 1,600 points for the first time.
Investors who sold early regretted it as the stock continued to rise.
During the morning session, a series of large-cap stocks such as MSN, MBB, VCB, BID, GVR… all surged, helping the VN-Index surpass the psychological resistance level of 1,600 points. However, just as it approached this mark, the market experienced volatility. Many investors chose to take profits to protect their gains.
Ms. Khanh Thy (Ho Chi Minh City), an investor with 5 years of experience, shared: "Brokers recommended selling before 1,600 points to avoid the risk of a correction after a series of rapid increases. My portfolio had many stocks that had made 10%-20% profit, so I sold them all. Unexpectedly, right after I sold, real estate and public investment stocks surged again."
A similar situation occurred with Mr. Quang Thanh (Ho Chi Minh City). After selling his shares on the advice to reduce margin, keeping 50% in stocks and the rest in cash, he witnessed many of the stocks he had just sold continue to rise in price. "I lost my holdings!" he said.
Large-cap stocks pushed the market above 1,600 points.
Leading stocks support the market, and the upward trend remains dominant.
According to VPS Securities Company, even if the market corrects, the expected support zone is around 1,550 – 1,570 – 1,580 points. This could be a consolidation phase before the VN-Index heads towards the 1,600 – 1,635 point range in the next 1-3 weeks. During this time, the market is likely to be diversified, with many large-cap (blue chip) or mid-cap (mid-cap) stocks still performing well even when the index moves sideways.
MBS's weekly strategy report also noted that the market is in a sustained uptrend, with corrections being purely technical and usually quickly absorbed. Liquidity is currently at a record high, far exceeding the peak during the COVID-19 period, indicating that capital remains abundant.
According to MBS, this could be a period where capital flows into highly speculative sectors or those that haven't seen significant price increases recently, such as real estate, oil and gas, industrial real estate, Viettel shares, seafood, and public investment. This is a strategy many investors expect will help them capitalize on the market's new upward trend.
Source: https://nld.com.vn/vn-index-lan-dau-cham-moc-lich-su-1600-diem-nha-dau-tu-vua-mung-vua-tiec-196250811114307329.htm
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