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Despite the second recovery, the VNIndex retests 1,050-pts threshold, showing a downtrend in the short term. Therefore, traders should stay on the sidelines.

Last week, trading volume dropped, recording at 71mn shares. Besides, trading value also decreased, recording at VND29bn due to the correction period. By underlying asset, covered warrants which have STB as the underlying asset continued to attract the most of trading interest from both domestic and foreign investors.

The Chinese economy has made a rebound in 2023, with major economic indicators seeing steady expansion, offering the latest evidence that the world's second-largest economy is set to secure a powerful recovery this year. Investors and economists pay special attention to PMI reading each month to get a pulse on the world’s second-largest economy.

The VNIndex closes below the significant moving averages, showing a downtrend in the short term. Therefore, traders should stay on the sidelines.

FForeign demand came back despite supply remained at 3-week average (USD230mn) and pushing the market to end up to be net bought. Net buy value was USD98mn, a 2-month high. With ETF flow, the inflow has come back to Vietnam, but demand is still weak. Although there was the active inflow, demand focused only on Fubon ETF whilst other major ETFs such as VFMVN30 ETF, VFMVN Diamond, VNFin Lead, and KIM Growth VN30 ETF experienced the outflow.

With short-term movement, the instrument still follows the flat period with unclear trend. Traders should stay on the sidelines and wait for the accurate market swing and capture the trading point later. (Hourly chart)

There is the strong supply near 1,050 pts zone. The rebound phase could be extent only when 1,100 pts zone is broken. Therefore, investors should reduce the positions on leading stocks and wait for more accurate signal for the upcoming market leg.

With short-term movement, the instrument still follows the flat period with unclear trend. Traders should stay on the sidelines and wait for the accurate market swing and capture the trading point later. (Hourly chart)

In the short term, the selling pressure is still intact around high prices such as the 1,100-pts threshold, implying the downside risk. Therefore, traders should stay on the sidelines.

In the short term, the selling pressure is still intact around high prices such as the 1,100-pts threshold. Therefore, traders should stay on the sidelines.