Tiếng Việt
普通话
Investors are advised to stay cautious and keep waiting for more supporting news during the second half of the month, especially after the upcoming U.S. Federal Reserve meeting, an expected meeting between the U.S. and Chinese presidents on the sidelines of the G20 leaders summit in Japan on June 28-29, and a meeting on oil production quotas between OPEC and Russia on June 25.
Local news related to the upcoming restructuring of exchange-traded funds and VN30 futures contracts may considerably affect the stock market in Vietnam.
Meanwhile, Bao Viet Securities JSC forecast that local stocks may bounce back and that the VN-Index of the Hochiminh Stock Exchange would move towards the resistance range of 959 and 963 points early next week. However, the market may also slip to 930-940 points before it can rebound.
In addition, there is room for bank stocks to slightly rebound in the next trading sessions, while oil and gas stocks may drop. Therefore, investors should maintain stock ratio at some 30%-35% in their portfolios, said Bao Viet in a report.
Similarly, according to Asean Securities, the VN-Index on the Hochiminh Stock Exchange will likely reach the resistance level of 957 points. In the worst-case scenario, the supporting ranges of the benchmark index may be at 940-950 and then at 920-930.
The brokerage recommended investors restrict buying shares regardless of high prices during this period and consider reducing stock holdings in their portfolios, especially amid weak cash flows and possible risks of market retreat.
Last Friday, the VN-Index gained 3.53 points, or 0.37%, to over 953 points with 143 advancers and 132 losers. The southern bourse saw over 155 million shares chaging hands with a total value of about VND3.4 billion, up 9% and 4% against the previous trading session.
Bank stocks such as VCB, BID, and TCB were the biggest contributors to the main index’s rally, alongside other good performers, including dairy firm VNM, gas firm GAS and retailer VRE. Particularly, construction firm ROS made an impressive recovery and led the southern market by liquidity with more than 10.6 million shares transacted.
On the Hanoi Stock Exchange, the HNX-Index edged down 0.03 points, or 0.03% to some 103, with 57 stocks winning and 63 others declining. Trade on the northern market exceeded 35 million shares worth over VND340 billion, up 60% and 27% compared to the last session.
There were three stocks seeing more than one million shares changing hands each, namely gas firm PVS and lenders SHB, ACB. Among them, ACB added 0.35% at VND28,700 per share.