return icon Vietnamnet.vn

Shares to go up on upbeat sentiment

The Vietnamese stock market is forecast to maintain an upward trend this week on upbeat investor sentiment, after seven consecutive gaining weeks of the market with increased liquidity.

 

A customer withdraws cash at VPBank's ATM. Shares of VPBank (VPB) were among the stocks that had the most positive influence on the VN-Index last week. 

 

Viet Nam’s benchmark VN-Index on the Ho Chi Minh Stock Exchange (HoSE) increased 1.49 per cent to close Friday at 1,067.46 points.

The index had gained 2.06 per cent last week.

An average of 628.4 million shares were traded on the southern exchange during each session last week, worth VND13.2 trillion (US$571 million).

Tran Xuan Bach, a stock analyst at Bao Viet Securities Co (BVSC), said the market would possibly face correction pressure during early sessions before rebounding toward this weekend.

“The index maintains a positive uptrend with a target price of 1,100 - 1,110 points. However, various stocks have become overbought, which may lead to strong volatility and correction pressure to the index,” he said.

“The cash flow tends to shift among stock sectors seeking profits. Small and mid-cap stocks are likely to flourish in the next few sessions.

“The stock exposure should be maintained at 50 per cent - 70 per cent of the total investment. Investors should hold stocks in the portfolio and consider lowering short-term positions during the exciting rally market from the beginning of the session or at the market’s resistance zone 1,100 - 1,110 points.”

According to Viet Dragon Securities Co, VN-Index returned to increase on Friday despite risky signs in the previous session, showing that money flow is actively supporting the market.

“VN-index closed at the highest level in the last four sessions, positively helping the market widen its current gaining span. However, there will be a strong struggle at 1070 points.

“Therefore, investors can keep potential stocks, but also need to narrow portfolio with signs of recession. In addition, investors should look for short-term opportunities at some stocks with good accumulation and gaining signals,” the company said.

The analyst group from MB Securities Joint Stock Company - MBS said that in the last session of the week, the liquidity remained at a high level, showing that investors expect the continued recovery of the market in the coming days. Foreign investors' trade took place positively when they net bought again with a total value of nearly 65 billion dong. In the next sessions, VN - Index might retest the resistance level of 1,085 points.

According to Saigon-Hanoi Securities Joint Stock Company (SHS), the majority of stock sectors witnessed growth last week.

Construction material stocks increased the most thanks to Nam Kim Group (NKG) rising 5.2 per cent, Hoa Sen Group (HSG) increasing 5.1 per cent, Tay Ninh Rubber JSC (TRC) gaining 3.7 per cent, Phuoc Hoa Rubber Co (PHR) up 3.1 per cent and Da Nang Rubber Co (DPR) going up 1 per cent.

They were followed by the banking group with notable gainers of Techcombank (TCB), up 13.8 per cent, VPBank (VPB), up 11.8 per cent, Military Bank (MBB), rising 7.4 per cent, Vietcombank (VCB) increasing 1.7 per cent and Vietinbank (CTG) climbing 1 per cent.

Le Hoang Phuong, an expert of macro and market strategy of Bao Viet Securities Joint Stock Company said last week, the stocks that have the most positive influence on the VN-Index were Vietnam Rubber Group - Joint Stock Company (GVR), Techcombank (TCB) and VPBank (VPB).

On the contrary, the stocks that have the most negative influence on the index last week were Vingroup (VIC), Vinamilk (VNM) and PetroVietnam Gas JSC (GAS).

“Viet Nam's stock market last week had positive developments in the context that many stock markets around the world, especially the US market, were on the rise thanks to optimism about progress in negotiations over US economic stimulus package,” he said. — VNS

Vietnamese stock market still booming amid pandemic: SSC Chairman

Vietnamese stock market still booming amid pandemic: SSC Chairman

The Vietnamese stock market has flourished amid global uncertainties due to the COVID-19 pandemic, said Tran Van Dung, Chairman of the State Securities Commission (SSC).

MORE NEWS

Vietnam demands Taiwan to cancel illegal drills in Truong Sa’s waters

Vietnam resolutely opposes and demands Taiwan (China) to cancel its live-fire exercises in the waters around Ba Binh island that belongs to Vietnam's Truong Sa (Spratly), Vietnamese Foreign Ministry spokeswoman Le Thi Thu Hang stated on December 2.

Make-in-Vietnam cameras have high security, satisfy standards

Make in Vietnam camera manufacturers are enhancing security capability and satisfying requirements on information security set by the Ministry of Information and Communications (MIC) for devices such as cameras and Internet of Things (IoT).

Government plans to rearrange state-owned enterprises till 2025

Deputy Prime Minister Le Minh Khai has signed a decision approving a plan of rearrangement of state-owned enterprises for the period of 2022-2025 in the form of one-member limited company, equitization, re-arrangement and divestment.

Transport Ministry urges new ship channel for large vessels in Mekong Delta

The Ministry of Transport has urged Tra Vinh Province to implement compensation payment for site clearance and resettlement support to build a new ship channel for large vessels in the Hau River.

Toan retains WBA Asia belt against Amparo in Bangkok

Le Huu Toan successfully defended his World Boxing Association (WBA) Asia minimum-weight (48kg) belt during The Challenger event on November 30 in Bangkok, Thailand.

Billions of dollars from foreigners invested in Vietnam’s enterprises

Foreign capital keeps flowing into Vietnam through many different channels, helping investors regain their confidence in the stock market and the economy.

Urban areas, parks to be built on Red River alluvium grounds

Hanoi authorities plan to build new urban areas and eco-friendly housing, and develop open space with parks, urban squares and flood parks on thousands of hectares on the alluvium grounds of the Red River area.

Target of 1 million social housing units difficult to reach

The goal of developing 1 million social housing units may not be feasible.

Ministry to control rice import management

The Ministry of Industry and Trade (MOIT) fears the high level of rice imports and the failure to control imports will affect domestic production.

Gambling soars during World Cup

Football betting is taking place in the open air at venues where people gather to watch World Cup matches, or quietly online.

Michelin Guide to announce first Vietnamese restaurant selections

Hanoi and Ho Chi Minh City have been selected by Michelin as the latest destinations joining the international selection, as compiled by the Michelin Guide.

Ministry to crack down on Internet ads violations

The Ministry of Information and Communications held a conference in Hanoi on November 30 to roll out Internet advertising management measures.

Seven-day Tet holiday fixed for State employees

Officials, civil servants, public employees and workers of State administrative and socio-political organisations will enjoy a seven-day Lunar New Year (Tet) and four-day National Day holidays next year.

Vietnam has opportunity for energy transition towards green growth

Vietnam boasts substantial potential for wind power, particularly offshore wind power, providing an opportunity for the country to fulfill its energy transition target towards green growth.

PM requests combined efforts to combat IUU fishing

Prime Minister Pham Minh Chinh called for concerted efforts to fight illegal, unreported and unregulated (IUU) fishing while chairing a teleconference with 28 coastal provinces and cities on December 1.
back_to_top