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In this situation, investors need to be cautious, stay on the sidelines and wait for the next reversal signal.

The downside risk is still present as the VNIndex closes below the 100-period moving average. Therefore, investors should stay on the sidelines and wait for the next signals.

The stock market has a 4th consecutive deep loss session by more than 1%, indicating selling pressure is still present. The downside risk is intact as the VNIndex remains to end below the 200-period moving average. Therefore, investors should reduce a portion of stocks in their portfolio to the safety threshold and wait for the next signal.

The big sell orders in the ATC sessions causes the stock market to experience a 2nd consecutive deep loss session. Selling pressure suddenly intensifies again with the VNIndex maintaining to close below the 50-period moving average, indicating the downside risk is intact. However, the important support level of the 1,100-pts threshold is still not breakout. Therefore, investors should stand aside and carefully observe the next movements. The next time, if VNIndex breaks the above support level with high liquidity, investors should start to reduce a portion of stocks in their portfolio to the safety threshold.

The HoSE announced the new constituents of the VN DIAMOND Index last Monday. As per the announcement, the index will remove DHC while adding HDB in the 4Q23 review. Furthermore, the VN30Index and the VNFIN LEAD Index will rebalance its weight based on the new free-float rate, share outstanding, and price… The new weight will be effective on 06 Nov 2023.

In general, demand declined significantly, while selling pressure intensified strongly again in domestic ETFs. In this case, outflow across Vietnam may persist in the next time. However, it is likely that this situation will not be prolonged, in the context of the stock market's ongoing recovery trend.

The stock market encounters difficulties when the VNIndex approaches the strong resistance zone of 1,150-1,160 points, indicating selling pressure is still present and quite significant. The downside risk is intact due to this index maintaining to end below the 50-period moving average. Therefore, investors should stand aside and wait for the next signal. The next time, if the VNIndex surpasses the above resistance zone, investors can open again exploratory long positions and focus on leading stocks.

The stock market closes around the reference points with improved liquidity, indicating investors’ sentiment is still quite cautious. Moreover, the downside risk is still present as the VNIndex maintains to end below the 50-period moving average. Therefore, investors should stand aside and carefully observe the next movements of the market.

In this quarterly review, the VN DIAMOND Index is expected to remove DHC and add HDB. The results will be announced on 16 Oct 2023, the new weight will be effective on 06 Nov 2023.

We expect that the inflow across Vietnam could decrease in upcoming quarters due to the diminish of demand on foreign ETFs, but the net flow would be flat cause the outflow on ETFs could be covered by the inflow from others.