70th anniversary of Hanoi's Liberation Day Vietnam - Asia 2023 Smart City Summit Hanoi celebrates 15 years of administrative boundary adjustment 12th Vietnam-France decentrialized cooperation conference 31st Sea Games - Vietnam 2021 Covid-19 Pandemic
Home / Economy / Banking & Finance
Vn-Index forecast to recover its peak of 1,530
Ngoc Mai 19:46, 2022/02/21
The market ended last Friday at 1,505, three points higher than the previous week.

Securities companies shared the view that the benchmark Vn-Index may return to its peak of 1,530, following the market’s upward trend for three consecutive weeks with improving liquidity and rising optimism among investors.

 Vietnam's stock market is set to be on an upward trend. Photo: Thanh Hai

The stock market last week witnessed ups and downs with three declining sessions and two rises. The Vn-Index ended last Friday at 1,505, three points higher from the previous week, marking the three consecutive weeks the local market held to the 1,500-mark despite negative information from the global stock markets.

A report from the MB Securities Company expected investors to turn to stocks of small and medium companies, given the steady recovery from the last few weeks.

Liquidity has also been improved with nearly 700 million shares changed hands worth over VND22 trillion (US$963.2 million) during the period, higher than the average recorded in the previous 10 sessions.

Meanwhile, investors appeared to become more optimistic over the market performance, thanks to the de-escalation of the Russia-Ukraine situation, which could be a major boost for the major stock indexes and also of Vietnam.

“The Vn-Index has a chance to surpass the 1,530-mark,” stated Phu Hung Securities Company in a note.

Sharing the same view, experts at Dong A Securities Company considered the 1,530-1,535 points to be the resistant zone of the index.

“In case real estate stocks of small and medium companies continue to attract investors and those of steel firms stay upward, it is highly likely that the Vn-Index may surpass this mark,” Dong A stated.

Securities companies also called for investors to continue focusing on stocks from firms with solid fundamentals. Dong A expected stocks with high potential for recovery in the pandemic include those from aviation, tourism, retail, or seafood.

Meanwhile, Vietcombank Securities Company (VCBS) said despite the optimism from the market, the Vn-Index may hover around the 1,500 mark with a fluctuation of 10 points.

“Investors should remain cautious and refrain from being too committed to the market in case of unexpected correction,” stated the VCBS.

TAG: VN-Index Vietnam stock market Ukraine Russia Vietnam
Other news
21:52, 2024/05/27
C.bank not considering dropping credit growth quota for fear of rising bad debts
Given the unique economic conditions of Vietnam, if banks increase credit growth without control measures, the system could return to the hot credit growth period seen before 2011.
18:20, 2024/05/09
Vietnam's non-cash payments reach US$9.8 trillion, 23 times GDP
Many of the banking industry's digital transformation goals for 2025 are on track to be met or exceeded.
21:53, 2024/05/04
PM urges Central bank to ensure positive growth in 2024
Local lenders are encouraged to provide incentives and attract individuals to take out consumer loans.
17:07, 2024/05/03
Vietnamese Gov't to continue VAT cut for second half of 2024
If the VAT reduction policy is continued for the last six months of the year, the total revenue loss for 2024 is projected to be approximately VND47.5 trillion (US$1.87 billion).
21:54, 2024/04/23
3,400 taels of gold purchased at the first-in-11-year auction
Gold trading firm SJC and lender ACB are the two successful bidders at the auction held today.
16:19, 2024/04/22
HoSE to launch KRX-developed transaction system in early May
Brokerage firms are expected to prepare data for the transition to the new system.