Research Center

Sell positions on VN30F2310 should be held and stop the loss when there is the closing price above 1,160 pts level (Hourly time frame).

Despite the second consecutive growth session, the downside risk is still intact as the VNIndex maintains to end below the 50-period moving average. Therefore, investors should reduce a portion of stocks in their portfolio to the safety threshold and wait for the next signal.

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.

The effect of SBV’s liquidity withdrawal, through bill offerings, on the money market this week becomes more significant this week. Interest rates for short-lived tenors, ranging from overnight to 1-month, rose generally by around 80bps compared to last week. Similarly, 10-year and 15-year G-bond yields increased by 19bps and 16bps, respectively. However, the USDVND rebounded strongly due to a broad appreciation of the greenback following the intensified U.S. government bond sell-off.

The covered warrant market has slowed down in trading volume from both domestic and foreign investors. Besides, the underlying market is currently in a correction phase phase, which is likely to have an impact both domestic and foreign trading activity in the upcoming period.

Sell positions on VN30F2310 should be held and stop the loss when there is the closing price above 1,160 pts level (Hourly time frame).

The stock market recoveries slightly during the session with low liquidity, showing investors’ sentiment is still quite cautious. The downside risk is still intact as the VNIndex maintains to end below the 50-period moving average. Therefore, investors should reduce a portion of stocks in their portfolio to the safety threshold and wait for the next signal.

Short-term correction period is confirmed and the bullish swing could not come back in the short-term. Besides, market leg is still unclear and demand is weak. Thus, investors should stay on the sidelines and wait for more valid signal for the upcoming trend.

Selling pressure comes back in the afternoon, causing the stock market to have a deep loss session and approach the important support zone of 1,080-1,100 pts. However, the liquidity is still at a low level, indicating selling pressure has decreased significantly, compared to previous deep decline sessions. The downside risk is intact due to the VNIndex maintain end below the 50-period moving average. Therefore, investors should reduce a portion of stocks in their portfolio to the safety threshold and wait for the next signal.

Sell positions on VN30F2310 should be held and stop the loss when there is the closing price above 1,160 pts level (Hourly time frame).