研究中心

Because of the Tet holiday, the market sentiment has become cautious in the short term. Therefore, traders should be careful and stay on the sidelines.

Despite the second recovery, the downside risk is still intact in the short term. Therefore, traders should reduce their long position and stay on the sidelines.

Despite the sharp recovery, the downside risk is still intact in the short term. Therefore, traders should reduce their long position and stay on the sidelines.

Although the all-time high is held, breakout has high probability to occur. In this case, investors should continue to hold the current positions on leading stocks and increase the position size when breakout is confirmed.

Key factors that drive the stock market to rise in 2022 include: (1) the Vietnam economy recovering and strong growth in 2022 and (2) new money will continue to flow into the stock market as new cash flows into stock markets and new money comes from capital flows of securities companies to margin.

We expect local ETFs to buy HPG, VPB, VND, and TCB the most, with 1.9 million shares, 1.7 million shares, 1.3 million shares, and 1.0 million, respectively. On the sell side, ACB, STB, and VHM will be sold heavily with more than 1 million shares.

Foreign demand overwhelmed. Buying activity focused on Financials and Industrials whilst Consumer Staples and Materials experienced the selling pressure. With ETF flow, Vietnam recorded the inflow. Net inflow was USD2mn, mainly contributed by the demand on VNFIN Lead ETF and VFMVN30 ETF.

Despite the sharp recovery, the downside risk is still intact in the short term. Therefore, traders should reduce their long position and stay on the sidelines.