Market remains bullish but investors should be cautious, experts warn

VN-Index, Viet Nam’s stock market, Ho Chi Minh Stock Exchange, HOSE, Ha Noi Stock Exchange, HNX, VN-Index, Viet Nam’s stock market, Ho Chi Minh Stock Exchange, HOSE, Ha Noi Stock Exchange, HNX, Markets,
Worker are moving products at one of Petrovietnam Fertilizer & Chemicals Corporation (DPM)'s warehouses. DPM shares posted a big gain last week. — Photo dpm.vn

Viet Nam’s stock market recorded a weekly gain despite a decline of the market benchmark in the last session. Analysts from securities firms expected the market to continue its rally but recommended investors be more cautious and prioritise risk management at this moment.

The VN-Index rose nearly 41 per cent on big stocks’ appeal on the first trading day after the Tet holiday. The market reopened last Wednesday after a week off.

The index continued its rally last Thursday despite some corrections during the session. But it reversed course in the last trading session due to selling pressure and finished lower.

On the Ho Chi Minh Stock Exchange (HoSE), the benchmark ended Friday at 1,173.5 points, down 0.07 per cent. Meanwhile, on the Ha Noi Stock Exchange (HNX), the HNX-Index climbed 0.1 per cent to 231.18 points.

According to MB Securities Co., the decrease in the last trading session was nothing compared to the plunges in regional markets. Actually, the loss was an effort of recovery after dropping nearly 15 points in the early session.

MB Securities assessed the movements as signs that the market is still relatively strong and the correction of the last session couldn’t affect the market’s bullish sentiment. The company recommended that investors prioritise managing risks, cut margins, stop using dollar-cost average and rebalance investments’ proportion.

Mirae Asset Vietnam Securities said the VN-Index could hit a resistance territory of 1,175 – 1,200 points in the short-term and selling pressure might be stronger at this level.

“However, there is a possibility that the index might soon beat this resistance territory and head to higher levels,” Mirae Asset added.

Based on the Elliot Wave principle, analysts from Saigon - Hanoi Securities JSC said the VN-Index was in wave 5 with a target of trading around 1,250 points, so the possibility of gaining points this week would be high.

Under Elliott Wave theory, the most basic pattern of market progress is the motive wave, which is subdivided into five waves and labelled with numbers. Wave 1, wave 3 and wave 5 move in the direction of impulse, while wave 2 and wave 4 act as retracements.

But the market might face fluctuations in the first sessions of the week as the VN-Index ended last session at 1,170 points.

For the week, the VN-Index increased 58.57 points, while the HNX-Index climbed 6.28 points.

The market’s liquidity was higher than the week before the Tet holiday, but still under its 20-day moving average. Around VND16.2 trillion in shares was traded on both exchanges per session.

Last week, material stocks group was the biggest gainer with 7.8 per cent capitalisation. The main driving forces for the gain were its main stocks such as Hoa Sen Group (HSG) up 4.8 per cent, Hoa Phat Group (HPG) up 3.9 per cent, Nam Kim Steel JSC (NKG) up 8 per cent, and Petrovietnam Fertilizer & Chemicals Corporation (DPM) up 9.4 per cent.

Other sectors from utilities, banking to information technology (IT) also witnessed great performance after Tet.

Foreign investors returned to the market, buying a net value of nearly VND1.2 trillion in shares last week. They were net sellers in the last two sessions before the market closed for Tet. — VNS

 

News Related

OTHER NEWS

Digiworld reports high profit growth in 2020

Digiworld holds shareholder meeting in HCM City on Tuesday. — VNS Photo Digiworld Coporation (“DGW”) on Tuesday reported a year-on-year growth of 48 per cent in revenue and 64 per cent in profit… Read more »

Shares rise for eight consecutive sessions, VN-Index hits new high

Customers at the insurance company Bao Viet Life, a member of the insurance-finance group Bao Viet Holdings (BVH). BVH rose 2.9 per cent Wednesday. — VNA/VNS Photo Tran Viet Shares gained for the… Read more »

Shares gain on late buying force

The gain of the 30 large-cap tracker was the main driving force for the market’s rally. Photo ndh.vn Shares reversed to finished higher on Wednesday morning thanks to increased buying force in the… Read more »

Foreign investments might flow into Viet Nam's stock market from the second half of 2021: BVS

A man watching stocks in front of a screen. — Photo doanhnghiepvadautu.net.vn Bao Viet Securities Company (BVS) expects Viet Nam’s stock market might attract up to US$1.4 billion from index tracking funds, if… Read more »

Shares rise on growth of pillars and energy stocks

Workers at Dung Quat Oil Refinery in the central province of Quang Ngai, operated by Binh Son Refining and Petrochemical JSC (BSR). BSR rose 2.3 per cent on Tuesday. — Photo bsr.com.vn Shares… Read more »

VN-Index rises slightly on Tuesday morning

The benchmark VN-Index inched higher on Tuesday morning on bank and real estate stocks but losses in many large-caps capped the gain. On the Ho Chi Minh Stock Exchange (HoSE), the VN-Index climbed 0.06 per… Read more »

Shares gain on bank and real estate stocks

The Sun Avenue, a condo project developed by real estate company Novaland in HCM City’s District 2. Novaland (NVL) rose 4.3 per cent on Monday. — Photo novaland.com.vn The market closed higher on… Read more »

Shares climb on the rise of bank stocks

Vietcombank (VCB) rose 4.8 per cent this morning. Photo the courtesy of Vietcombank Shares made strong gains on Monday morning, propelled by the growth of banking stocks. On the Ho Chi Minh Stock… Read more »

Bull market might continue this week: experts

A Vietcombank employee talks to a customer. The bank shares rose 3.1 per cent last week. — Photo portal.vietcombank.com.vn Viet Nam’s stock market recorded a week-long rally with the benchmark breaking through 1,200… Read more »

Stocks rise for fifth session, VN-Index heads to new highs

A worker on a production line at Vinamilk’s plant. Vinamilk was one of the leading shares yesterday, up 1.68 per cent. — Photo www.vinamilk.com.vn The market closed higher on Friday as many large-cap… Read more »

VN-Index gains nearly 8 points on bank and real estate stocks

The market continued its rally on Friday morning, and was on course for a fifth consecutive gaining session. On the Ho Chi Minh Stock Exchange (HoSE), the VN-Index increased 0.65 per cent, equivalent to 7.94… Read more »

VN-Index surges to above 1,210 points, foreign cash flows reverse

Workers at a Hoa Phat Group factory. The company shares were in the top three stocks influencing the market’s gain yesterday, up 2.63 per cent. — Photo hoaphat.com.vn Viet Nam’s stock market rose… Read more »

Shares edge up, VN-Index back to test 1,200 point-level

The market continued its rally on Thursday morning, helped by gains in large-cap stocks. On the Ho Chi Minh Stock Exchange (HoSE), the benchmark VN-Index rose 19.5 points, equivalent to 1.64 per cent, to 1,120.94… Read more »

Market remains bullish as pillar stocks attract local investors

One of Masan Group’s stalls in a supermarket. The company shares posted the biggest gain in market capitalisation yesterday, up 4.52 per cent. — Photo masangroup.com Stocks extended their rally on Wednesday as… Read more »

Shares rise on large-cap stocks

The market rose on Wednesday morning on blue-chip stocks with the real estate sector continuing to lead the market’s trend. On the Ho Chi Minh Stock Exchange (HoSE), the VN-Index climbed 0.31 per cent to… Read more »

FLC targets over US$47.71 million in pre-tax profit in 2021

FLC Halong Bay Golf Club and Luxury Resort. — Photo flc.vn FLC Group Joint Stock Company expects to achieve more than VND1.1 trillion (US$47.71 million) in pre-tax profit, and over VND15 trillion in… Read more »

VN-Index continues rally but selling pressure persists

The market benchmark VN-Index increased at the beginning of the morning session on the gains of pillar stocks, but the market’s rally was limited by selling pressure. On the Ho Chi Minh Stock Exchange (HoSE),… Read more »

Stocks finish higher while foreign investors continue to flee market

A Vietinbank office during transaction hours. Vietinbank shares rose 2.43 per cent on Monday, contributing the most to the market’s rally. — Photo vietinbank.vn Markets edged higher on Monday as many big stocks… Read more »

Market opens new week on positive note as large-cap stocks rise

Vietnam’s stock market rose on Monday morning, reversing last week’s downward trend on gains in blue-chip stocks. On the Ho Chi Minh Stock Exchange (HoSE), the market benchmark VN-Index climbed 0.43 per cent to 1,167.19… Read more »

Shares forecast to face sharp volatility this week

CMC Corporation workers at its data centre in Ha Noi. Information technology stocks fell the most last week with losers including CMC Corporation (CMG), losing 7.2 per cent. — Photo CMC Vietnamese shares… Read more »

MWG's profit up 18 per cent

A MWG’s store in Thuong Tin District, Ha Noi. — Photo www.thegioididong.com As of February, Mobile World Investment Corporation (MWG)’s net revenue increased 6 per cent year-on-year to more than VND21.7 trillion, with… Read more »

Shares end morning trade on negative note

Shares retreated on Friday morning due to strong selling pressure worrying traders. cafef.vn Shares retreated on Friday morning due to strong selling pressure worrying traders. On the Ho Chi Minh Stock Exchange (HoSE),… Read more »

Shares rebound on bottom purchases

On the Ho Chi Minh Stock Exchange (HoSE), the benchmark VN-Index rose 0.47 per cent to 1,167.32 points. Photo cafef.vn Shares rebounded on Thursday morning as investors sought out stocks that had been… Read more »

Over 1.2 billion SeABank shares listed on HoSE

Nguyen Thi Nga, Vice Chairwoman of the Board of Directors of SeABank, attended the listing ceremony on Wednesday morning. — Photo courtesy of SeABank On Wednesday morning, Southeast Asia Commercial Joint Stock Bank… Read more »

PNJ's profit increases over 11% in the first two months on God of Wealth day

PNJ’s buildings in Center Point Tower, Cau Giay, Ha Noi. — Photo courtesy of PNJ Sales of jewellery at Phu Nhuan Jewelry JSC (PNJ) grew over 39 per cent on the God of… Read more »

Shares fall on poor sentiment

On the Ho Chi Minh Stock Exchange (HoSE), the benchmark VN-Index dropped 2.38 per cent, to 1,155.23 points. Photo cafef.vn Shares extended losses on Wednesday morning due to poor investor sentiment. On the… Read more »

HoSE listed stocks start trading on HNX from March 29

A trader watching stocks on a screen. — Photo doanhnghiepvadautu.net.vn The Ha Noi Stock Exchange (HNX) just announced a trading schedule of four companies transferring from the Ho Chi Minh Stock Exchange (HoSE).… Read more »

Shares correct as large-caps falter

A Vincom Centre developed by Vincom Retail. Shares of Vincom Retail (VRE) lost 1.3 per cent on Tuesday. — Photo courtesy of VRE Viet Nam’s stock market ended on a negative note on… Read more »

Shares lose ground on strong selling force

On the Ho Chi Minh Stock Exchange (HoSE), the benchmark VN-Index dropped 1.03 per cent, to 1,182.08 points. Photo cafef.vn Shares lost ground on Tuesday morning with the VN-Index withdrawing to near 1,180 points.… Read more »

Shares close higher but VN-Index fails to hit 1,200

A factory run by sugar firm Thanh Thanh Cong-Bien Hoa JSC (HoSE: SBT). The company shares soared 2.2 per cent on Monday. — Photo ttcsugar.com.vn Viet Nam’s stock market managed to close higher… Read more »

Companies with exceptional business make good earnings

Workers of Yen Bai Joint Stock Forest Agricultural Products And Foodstuff Company (CAP) make votive paper. Votive paper segment accounts for 50 per cent of CAP’s total revenue. — Photo courtesy of the… Read more »

Analysts see profit-taking as VN-Index hovers around 1,200 points

FPT’s campus in Ha Noi. — Photo fpt-software.com The market experienced a thrilling week as the VN-Index successfully peaked the historic high of 1,200 points after volatile sessions. However, the index fell under… Read more »

Market ends mixed, VN-Index loses points on large-cap stocks

Hoa Phat Group’s warehouse. The gain of 1.18 per cent of the company shares on Friday helped limit the loss of the VN-Index. — Photo hoaphat.com.vn The market benchmark VN-Index finished lower on… Read more »

Huge volume of shares flock to HoSE despite current overload

HoSE’s trading system, which has remained mostly unchanged for the last 20 years, has been overwhelmed after a huge number of new investors began trading in recent months. — Photo tinnhanhchungkhoan.vn Despite chronic… Read more »

VN-Index falls under 1,200 point-level as selling pressure returns

Shares ended their rally on Friday morning with the VN-Index dropping below the historic high of 1,200 points. On the Ho Chi Minh Stock Exchange (HoSE), the benchmark VN-Index shed 0.55 per cent, equivalent to… Read more »

VN-Index inches closer to 1,200-point level

The market was mixed on Thursday morning as the VN-Index continued to rise on bank stocks while the HNX-Index dropped. The benchmark VN-Index on the Ho Chi Minh Stock Exchange (HoSE) climbed 9.41 points, equivalent… Read more »

Brokers seek way to borrow from investors with high interest rates

Employees at VNDirect Securities Corporation. By borrowing from investors while they do not use capital to conduct transactions, securities company can quickly ultilise idle money of investors to significantly improve profit margins. —… Read more »

Market reverses course, VN-Index rebounds

Customers at a Vietinbank transaction office. — Photo baochinhphu.vn Viet Nam’s stock market finished higher on Wednesday as a recovery of bank stocks supported the market. On the Ho Chi Minh Stock Exchange… Read more »

VN-Index drops despite bank stocks surging

The market fell on Wednesday morning as the rebound of many big bank stocks could only pare some losses. The VN-Index on the Ho Chi Minh Stock Exchange (HoSE) declined 0.05 per cent to 1,179.26… Read more »

VN-Index down on continued congestion, HNX-Index extends gains

The VN-Index edged down 0.39 per cent to end Tuesday at 1,179.90 points. — Photo vietnamfinance.vn Shares advanced on the Ha Noi Stock Exchange but slipped on HCM City’s bourse on Tuesday, partly… Read more »

Market falls as many large-cap stocks face sell-off

The market was pressured on Tuesday morning as selling pressure persisted on blue-chip stocks. The market benchmark VN-Index on the Ho Chi Minh Stock Exchange (HoSE) fell 0.55 per cent, equivalent to 6.48 points, to… Read more »

Listed banks to pay high dividends

Shareholders of Saigon Hanoi Commercial Joint Stock Bank (SHB) can receive dividend at a rate of up to 20.5 per cent this year. — Photo courtesy of SHB Some listed banks plan to… Read more »

Market continues last week's rally on banking sector

An MBBank employee talks to a customer at its branch. The bank shares climbed 2.3 per cent in Monday’s trade. — Photo mbbank.com.vn Viet Nam’s stock market finished higher on Monday, but foreign… Read more »

VN-Index edges higher in morning session

The market rose slightly on Monday morning as many big stocks faced selling pressure. On the Ho Chi Minh Stock Exchange (HoSE), the market benchmark VN-Index climbed 0.1 per cent to 1,182.73 points. In the… Read more »

VN-Index dips in bumpy trade with divergence among stocks

PetroVietnam Gas (GAS) engineers at a facility. The company shares lost 1.7 per cent on Friday. — VNA/VNS Photo Vietnamese stock markets experienced a choppy trading session on Friday as shares encountered correcting… Read more »

Securities, banking stocks drive market up

On the Ho Chi Minh Stock Exchange (HoSE), the VN-Index rose 0.55 per cent, to 1,176.53 points. — Photo tinnhanhchungkhoan.vn Shares extended gains on Thursday morning thanks to the growth of banking and… Read more »

Foreign investors net buy stocks on HNX in February

Traders watch stock prices in front of trading boards. — VNS/VNA Photo The Ha Noi Stock Exchange (HNX) witnessed a dynamic month in February as foreign investors net bought a value of VND40… Read more »

Shares gain on the back of banking stocks

A customer at a branch of Military Bank (MBB). Shares of MBB rose 2.2 per cent on Wednesday. — Photo courtesy of MBB Vietnamese stock markets ended Wednesday on a positive note, largely… Read more »

Hoa Sen Group sets new steel export record in February

Hoa Sen’s products are loaded for shipping. — Photo hoasengroup.vn Hoa Sen Group (HSG)’s galvanized steel exports set a new record in February despite the Tet holiday. According to a statement on its… Read more »

Shares bounce back on the growth of blue-chips

On the Ho Chi Minh Stock Exchange (HoSE), the VN-Index rose 0.38 per cent, to 1,166,36 points. Photo tinnhanhchungkhoan.vn Shares rebounded on Wednesday morning thanks to the growth of large-cap stocks. On the… Read more »