Shares are forecast to go up this week, propelled by foreign net buying and positive first-quarter business results from listed companies. 

The market closed higher on Monday as a series of banking and real estate stocks surged, propelling the indices.

July looks set to be a hard month for investors as market turbulence continues due to the unpredictability of global stocks and with attention on second-quarter earnings expectations.

Vietnamese stock market is forecast to move higher this week, where correction and volatility is expected.

Local stocks are expected to keep rising this week but their growth would be slower as goods news dries up.

Shares are forecast to move sideways this week as investors brace for dreary quarterly earnings reports that could offer more clarity on how badly corporate profits have been damaged by the novel coronavirus pandemic.

Stronger profit-taking is expected in the coming days as the benchmark VN-Index is on track to touch 800 points again and that short-term peak will be an opportunity for investors to realise their profits.

A three-day rally does not mean Vietnamese shares have returned to the growth track as risks are still persistent and there is no clue they have faded away, experts have said.

The benchmark VN-Index on the Ho Chi Minh Stock Exchange (HoSE) took a nosedive to close at 835.49 points on March 9, recording the worst slump since 2002.

Margin lending may be allowed on the Unlisted Pubic Company Market (UPCoM), the State Securities Commission (SSC) vice chairman Pham Hong Son said on Wednesday.

Brokerage firms and market experts remain pessimistic about market trading this week as investors run out of supportive information while international stocks continue to be weighed down by the novel coronavirus (COVID-19).

In 2019, foreign investors bought in shares worth VND3.7 trillion (US$159.67 million), but offloaded over US$4.4 trillion (US$189.88 million).

Market analysts and experts have forecast a brighter outlook for the stock market in 2020, but challenges remain arising from internal and external influences.

Concerns about the US-China trade talks have lifted for now, and investors are turning their attention to third quarter earnings reports and how listed companies will perform in the last three months of the year.

Investors may want to brace for a bumpy trading week as the Vietnamese stock market is still vulnerable to the unpredictability of global shocks in geographic, political and economic conditions.

Vietnamese shares may continue falling this week as investors remain pessimistic about economic and business prospects in 2019.