Hochiminh Stock Exchange
The Vietnamese stock market may move marginally up as investors look forward to foreign exchange-traded funds (ETFs) to complete their quarterly investment reviews.
As many stocks have plunged below their real value, foreign funds are combing Vietnamese shares, raising fears that Vietnamese companies will be acquired by 'shark' investors.
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.
Vietnam Airlines is among 51 stocks that had been barred from margin lending in the second quarter, according to the Ho Chi Minh Stock Exchange (HoSE).
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.
Vietnam’s stock market is expected to lure more foreign capital in 2020, according to brokerages.
US-Iran tensions and pre-Tet sentiment will be two key factors impacting the Vietnamese stock market in the coming week (January 6-10).
Market analysts and experts have forecast a brighter outlook for the stock market in 2020, but challenges remain arising from internal and external influences.
After having declined for four straight weeks, the Vietnamese market may rebound in December as analysts and securities companies expect that cheaper shares will attract hungry investors amid the world’s volatility.
The VN-Index had rallied between the end of October and the beginning of November, with strong growth of large-cap firms.