Home / Economy / Banking & Finance
Vn-Index set for upward trend from September 13-17
Hai Yen 13:11, 2021/09/13
Stocks from firms in fields of retail, tourism, or aviation may become attractive once the process of reopening the economy is accelerated.

The majority of securities brokerage expect an upward trend for the Vn-Index this week, but investors should be cautious about the market performance as there is still a lack of supporting information and exchange-traded funds (ETFs) restructuring their investment portfolios.

The forecast was given by experts from Vietcombank Securities Company (VCBS), Viet Dragon Securities Company (VDSC), and MB Securities Company (MBS).

 

 Investor at a securities company in Hanoi. Photo: Cong Hung

The benchmark Vn-Index last week fluctuated in a narrowing range from 1,330-1,350 and ended at 1,345.31 last Friday, a slight increase of 0.8% against last week.

While the market closed last week’s session on a positive note, foreign investors maintained their net-selling position with an amount of VND3.1 trillion (US$136 million). Such a trend, along with the serious Covid-19 situation and the lack of supporting information may hamper the growth of the market in short term.

Vietcombank Securities Company (VCBS) noted while the Vn-Index has been in close range to the 1,350-mark and liquidity remains abundant, the overall market sentiment continues to be cautious.

“Despite the fact that the market is still under selling pressure for profit, the declining trend did not last long as the Vn-Index was in right back in recovery,” stated the VCBS, adding the money is returning to the market.

VCBS said the lack of supporting information was the main reason for recent ups and downs.

“The market may remain the same for a few weeks before firms start releasing their financial statements for the third quarter,” added the securities company.

In this context, VCBS suggested investors accumulate stocks of firms that are expected to have good financial results in the two final quarters or wait until the Vn-Index moving to the next supporting zone before making any purchasing decision.

Sharing the view, Viet Dragon Securities Company (VDSC) noted the stock market constantly moved sideways within a narrow range in the last trading week, in turn causing difficulties for investors to gain short-term profits.

SHS Securities Company said as the Vn-Index is hovering around 1,330-1,350, the market trend would change once “the index breaks through to either end.”

“For this week, the market may go through a correction phase if it could not surpass the 1,350-mark. Otherwise, the Vn-Index may go up to 1,375-1,380,” added the SHS.

Meanwhile, MB Securities Company (MBS) noted ETF’s reviewing period and upcoming Fed’s meeting in September are the key factors affecting market performance.

“Stocks of firms in fields of retail, tourism or aviation may become attractive once the process of reopening the economy is accelerated,” stated the MBS.

MBS forecast Vn-Index to move up to 1,370 this week with a slight increase in liquidity.

RELATED NEWS
TAG: Vietnam VN-Index covid-19 economy trade stock market
Other news
21:06, 2021/06/23
Banks foregone over $1 billion in profit to support businesses during Covid-19 outbreaks
A group of 16 commercial banks, accounting for 75% of total outstanding loans, has committed to foregoing around VND20.6 trillion ($906.3 million) in waiving and lowering interest rates for customers in the remainder of the year.
11:33, 2021/33/20
Vn-Index set to maintain positive trend to reach 1,380 this week
The securities company advised investors to buy in mid-cap stocks or blue chips and sell small-cap ones that have earned a sizeable profit for some time.
22:09, 2021/09/13
Vietnam to prioritize 2022 expenditure budget for raising basic salaries
The basic salary is set to go up from VND1.49 million ($65.46) per month to VND1.6 million ($70.17) from July 2022.
13:11, 2021/11/13
Vn-Index set for upward trend from September 13-17
Stocks from firms in fields of retail, tourism, or aviation may become attractive once the process of reopening the economy is accelerated.
14:03, 2021/03/09
HSBC deploys first green deposit for businesses in Vietnam
The move is aimed at supporting the Vietnamese Government’s efforts and businesses in sustainable development.
13:51, 2021/51/08
Vietnam c.bank agrees for banks to extend debt rescheduling for 6 months
The move is set to be applicable to all debts incurred before August 1, 2021, instead of the previous timeline of June 10, 2020.