Phuong Thao
On the southern bourse, the trading value rose by nearly 40% to around VND1 trillion. FLC took the lead in terms of liquidity with 4.2 million shares changing hands, followed by ITA with a volume of four million shares.
Viet Capital Securities Company said that it saw the exchange traded fund Van Eck accumulating stocks following a reported increase in the number of outstanding shares by 100,000 overnight.
Mid-cap and penny stocks outperformed, especially real estate tickers which were trading at below the par value. Meanwhile, the VN30 Index still underperformed the VN-Index, it commented.
Meanwhile, the Hanoi market gained ground for the seventh straight session on Monday with turnover expanding to VND256 billion. The HNX-Index rose 0.55 point, or 0.92%, to close at 60.95.
According to Viet Dragon Securities Company (VDSC), investor sentiment improved to a great extent due to Prime Minister Nguyen Tan Dung’s speech during his trip in the U.S., confirming the 2% ceiling for the Vietnam dong depreciation from now to the end of this year. The exact percentage of adjustment, however, would depend on market developments during the period.
Moreover, the Government is considering raising the upper limit of foreign ownership at local banks and firms to 49%. For necessity prices, Dung demanded that the Ministry of Industry and Trade consider a gasoline price cut as the global price has been on a downtrend.
“Given such supporting news, there is a high possibility that the VN-Index will remain on the upside for the coming days. On the technical view, however, that the index is marching toward the resistance of 500 points should cause challenges for the market,” VDSC said.
For timely and accurate decisions, investors are advised to watch market developments. Those looking to the medium and long term, on the other hand, may consider taking position in stocks that suit their tastes, the broker added.
Vietcombank Securities Company also expected that optimistic effects of the above information would prolong this week.
The market is likely to maintain the short-term gaining momentum, which would be further consolidated if receiving more good news from the macro economy and enterprises.
“We keep our recommendation that investors could gradually add in stocks of good fundamentals and high potential growth at proper prices, especially in sessions of technical correction and no bad information released,” the broker added.
Đăng ký: VietNam News