Stocks expected to gain further recovery next week

Cash is flowing into groups of stocks with macro-economic support, including textile, industrial real estate, electricity, and information technology. Bank stocks will likely see a short rally while oil and gas stocks will continue gaining despite strong volatility and correction, Bach said in a report.

Bach also said that investors should hold off share buying at high prices and consider selling them when the index on the southern bourse reaches 965-970 points.

In BIDV Securities Company’s view, the market will see a positive recovery and liquidity improve significantly next week. It also forecast that investors will be more cautious due to the impact of the escalating U.S.-China trade war on the local and regional markets.

Meanwhile, Viet Dragon Securities Co. (VDSC) said that the key stock indexes will rebound strongly, but liquidity is not expected to change in a positive way. Investors should stay wary when the indexes hover around their resistance levels, VDSC said in a report.

The local market will see a short-term uptrend, with the VN-Index, the VN30-Index and the HNX-Index moving towards the respective resistance levels of 960 points, 873 points and 104.2 points next week, Viet Capital Securities Company (VCSC) predicted.

Also, VCSC said that the index on the HCMC bourse could hit 963 points at the first session next week.

Last Friday, the benchmark VN-Index of the Hochiminh Stock Exchange closed up 10.07 points, or 1.06% against the previous session to end the day at 958.28 points.

The southern bourse saw over 148 million shares worth VND3.3 trillion changing hands, up 17.5% and 4.96%, respectively, with a significant contribution of block deals amounting to 50.2 million shares worth VND1 trillion.

Apart from construction firm ROS continuing leading the southern market by liquidity, the top ten stocks and some blue chips were also good performers at the Friday session.

On the Hanoi Stock Exchange, the HNX-Index picked up 1.14% at the intraday high of 104.21 points. Trade on the northern exchange totaled 22.74 million shares worth VND270.1 billion, up 7.37% in volume and 6.77% in value from the previous session.

Foreign investors net bought VND15.18 billion of shares on the southern bourse, chiefly VIC, HVN and NVL, while they net sold VND0.8 billion worth of shares on the northern exchange.