Vietnam Stock ‌Market Outlook: VN-Index​ to Move Towards Resistance Level of 1,320-1,330 Points

Market Analysis: A Cautious Sentiment

The Vietnam stock market entered the last⁤ trading week​ of August with a cautious sentiment, resulting in a​ sideways​ movement around the 1,280 point mark. The VN-Index experienced a narrow range of nearly⁢ 16 points⁢ from 1,274.7-1,290.45 points. Despite‌ four out of five sessions⁣ showing an increase in points, the lack of demand ​gradually revealed itself with ‍many “green on the outside, red⁣ on the inside” sessions.

The efforts to push up the price by buyers failed early in the⁤ morning session, ​and⁢ the‌ resistance zone ⁤of​ 1,300 points remained a significant barrier. However, the demand still supported the price, preventing the index from⁣ sliding too deeply. The positive ⁢movement of large-cap stocks, with the VN30 index increasing by more⁤ than 10 points last ‌week, contributed ​significantly to ⁤this outcome.

Market Liquidity and‍ Industry Performance

Market ⁣liquidity decreased by 17.6% compared to the average of 20‍ trading weeks, especially in⁣ the last sessions of August. The‌ average matched liquidity on the HSX floor reached 626 million shares (-10.81%), equivalent to⁣ VND 15,645 billion (-11.88%) in trading value.

The market opening had a poor week with 18/21 industry groups adjusting. Most sessions were green on the outside and red on the ​inside. Industry groups such as Consumer goods (-4.20%), ⁣Textiles (-2.26%), Steel (-2.03%), and Insurance (-1.77%) put significant pressure on the market. In contrast, residential real⁣ estate (+2.31%), Pharmaceuticals (+0.75%),‍ and Chemicals (+0.42%)‌ were the only industry groups ⁤that went against the ⁣trend.

Expert Insights ⁢and⁣ Recommendations

According to experts from Kien Thiet Securities Company⁤ (CSI), the VN-Index⁢ will head towards the resistance level of 1,320-1,330 points. Investors should ‌hold on to their portfolios and ‌consider opening new buying positions if the ⁢VN-Index corrects ⁣to test the support level of 1,253-1,255 points.

ASEAN ​Securities Company (ASEANSC) analysts believe that the market will retest the 1,290-1,300 point range. They recommend maintaining the stock ratio at 60% this week from September 4 ⁤to September 6.

Yuanta Vietnam Securities Company (YSVN) experts share the same ‌view, stating that the⁤ market may continue to increase ⁤in this trading week and the VN-Index will​ retest the ‌1,290-1,300 point range. They advise investors to take advantage of​ corrections to increase the proportion of stocks and make new‍ purchases.

Conclusion

The Vietnam stock market is expected⁤ to move towards the resistance level of 1,320-1,330 points. Investors ⁢should remain cautious ​and ⁢consider the expert ‍insights⁤ and⁣ recommendations to make informed decisions. With ⁤the market⁣ showing signs of ending the medium-term accumulation phase early, ⁢the medium-term ⁤trend ⁢may soon become clearer in the coming ⁣trading⁢ weeks.