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Long positions on VN30F2309 should be held and stop the loss when there is the closing price below 1,220 pts level (Hourly chart).

Long positions on VN30F2309 should be held and stop the loss when there is the closing price below 1,220 pts level (Hourly chart).

Selling pressure intensifies again during the session with liquidity increasing suddenly, causing the VNIndex to continue encounter difficulties approaching the strong resistance zone again. That means the downside risk is still present. Therefore, investors should stand aside and carefully observe the next movements of the market.

The S&P Global Vietnam Manufacturing Purchasing Managers' Index (PMI) rose to 50.5 in August 2023 from 48.7 in the prior month. This was the first increase in factory activity since February, as output, new orders, and foreign sales all returned to expansion. Overall, the PMI's return to growth in August is a welcome development for the Vietnamese economy. It suggests that the manufacturing sector is recovering and is well-positioned to contribute to the country's economic growth in the coming months.

Long positions on VN30F2309 should be held and stop the loss when there is the closing price below 1,220 pts level (Hourly chart).

The stock market increases strongly during the session with liquidity at a normal level, showing a positive signal. The uptrend is still intact, however, the downside risk at the important resistance zone of 1,240-1,250 pts may appear again. Therefore, investors should stand aside and observe the next movements of the market. The next sessions, if the VNIndex successfully surpassed the 1,250-pts threshold with high liquidity, investors could open again long positions.

The stock market losses strongly during the session due to profit-taking activities vibrancy again in the afternoon. Furthermore, the liquidity suddenly rises, indicating investors' caution sentiment as the VNIndex approaches the important resistance zone of 1,240-1,250 pts. However, the uptrend is still intact when this index closes above the 20-period moving average. Therefore, investors should stand aside and observe the next movements of the market.

Long positions on VN30F2309 should be held and stop the loss when there is the closing price below 1,220 pts level (Hourly chart).

Although selling pressure came back again, demand still maintained at a high level and trading interest remained to spread to all cover. Moreover, the positivity of the underlying market is also expected to cause positive impacts to the warrant market in the next time.

Interbank rates steadily stay at their lows when more announcements of lowering deposit rates are recorded. Although the aggregate loan balance returned to growth in August, the improvement was modest, partly causing the liquidity condition to be excessive further. In the vein of government support, the postponement of clauses 8, 9, and 10 of Article 8 of Circular No. 39/2016/TT-NHNN became effective in September. We expect SBV’s decision to ease a few requirements for borrowers and improve credit performance for the future months. The FX market is in the spotlight this week when the September FOMC is counting down. USDVND ended seven rallying weeks with a 10bps reduction compared to last week.