31st Sea Games - Vietnam 2021 Covid-19 Pandemic
Home / Economy / Banking & Finance
Vn-Index set to hover around 1,350-mark this week
Ngoc Mai 11:24, 2021/09/27
The Vn-Index would move on to the next resistance zone of 1,375-1,380 if it can hold on to the 1,350-mark this week.

As public companies are set to release their business results of the third quarter next month, the majority of securities companies expect the benchmark Vn-Index to hover around the 1,350-mark this week as investors remain cautious against possible unexpected situations.

 The Vn-Index is set to hover around 1,350 this week. Photo: Viet Linh

The last trading week from September 20-24 ended in a standstill with Vn-Index at 1,351.17, slightly down 0.11% against the previous week, due to concern over a possible default of China’s Evergrande or news related to the FED policy meeting.

The liquidity remained strong in the past week but there were signs of investors looking to sell their mid-cap and penny stocks and moving back to large-cap ones, while foreign investors continued to maintain their net-selling position at over VND800 billion (US$35.11 million).

MB Securities Company (MBS) said the fact that the Vn-Index has been moving sideways for the past three weeks around 1,330-1,360 is showing a cautious approach from investors ahead of possible negative business performance of public firms in the third quarter.

According to MBS, such a trend is understandable given the fact that a long social distancing period in Hanoi and Ho Chi Minh City has severely affected the economic activities and growth prospects of multiple sectors.

“The Index would continue to fluctuate around 1,330-1,360 this week, but amid headwinds coming, this is positive news in case liquidity could remain strong,” it added.

Sharing the view, Vietcombank Securities Company (VCBS) suggested investors are still observing the market when there is a lack of supporting information.

VCBS noted while the market has shown its resilience in the past by bouncing back from 1,330 in previous weeks, investors should be prepared for a possible market slump.

BIDV Securities Company (BSC) said the money inflows may be concentrated on stocks from firms with positive business results, but the index may stay around 1,350.

The Viet Dragon Securities Company warned investors not to be over-committed to the market before a trend starts becoming clear.

On a more positive note, SHS Company expected the Vn-Index to move on to the next resistance zone of 1,375-1,380 if it can hold on to the 1,350-mark. Otherwise, the Vn-Index may fall back to 1,325-1,340.

RELATED NEWS
TAG: Vietnam stock market VN-Index covid-19
Other news
16:45, 2022/45/01
Central bank raises forex rate fourth time in 2022
The move is aimed to ease the pressure of a stronger US dollar on international markets.
19:35, 2022/35/30
Key issues discussed for better e-commerce tax collection
Experts have analyzed the key problems that have prevented better collection of tax on electronic transaction in Vietnam.
18:17, 2022/17/30
Vietnam’s 9-month budget revenue equals 94% of year’s target
This year's budget revenue could exceed the target of VND1,410 trillion ($59 billion).
13:20, 2022/20/23
Vietnam c.bank raises policy rates first time in two years
A higher interest rate cap would have a direct impact on banks, businesses, and people.
15:06, 2022/06/19
Central bank rules out expanding credit growth target
The SBV set the credit growth target at 14% this year, higher than the 2020-21 period, which was 12.17% and 13.61%, respectively.
15:39, 2022/39/15
Vietnam's bond market expands to nearly $100 billion
The growth was driven by both the Government and corporate bond segments.