Stock market commentary on 7/4: Maintain a positive trend in the short term

The situation of control of Covid-19 epidemic is showing positive signs, along with the prosperous development of the global stock market. These are the factors that will continue to support the market’s recovery momentum.

The domestic stock market increased the most in 19 years in the first trading session of the week. The market recovered strongly and spread widely in most groups and was supported by booming liquidity.

At the close, the VN-Index increased by 34.95 points to 736.75 points, of which the VN30 increased by 33.5 points to 682.65 points. Market breadth was positive, the whole market had 331 gainers / 58 losers, in the VN30 basket there were 29 gainers, no losers and one kept reference.

Stocks that had the most positive impact on the VN-Index today were VIC, VHM and BID, contributing 6.08, 3.83 and 2.76 points respectively. On the contrary, the most negative influences on VN-Index today were QCG, HRC and DTL when taking the index out of 0.02 points at the same time.

The market liquidity was at a high level with the matched value of nearly 3,787 billion dong. Foreign investors’ trade was not very positive as they continued to net sell with a total value of nearly 700 billion dong on the market.

The domestic market has started the week of fullness after breaking out strongly with the strongest increase session in Asia. The difference between this session and previous gaining sessions was that the liquidity increased thanks to the consensus of large stock groups.

Here are the comments of securities companies on April 7:

Stock market commentary on 7/4: Maintain a positive trend in the short term

VN-Index movement. Source: FSC.

MB Securities Joint Stock Company (MBS)

In a positive scenario, the market is likely to create a small double bottom pattern at the support level of 650 points and target the target price zone at 750 – 800 points. During the recovery process, investors pay attention to vibrations in the 720 – 750 points. With increasing / decreasing sessions, the market will likely create a higher bottom than the previous bottom.

Yuanta Vietnam Securities Corporation (FSC)

The market is likely to correct and the VN-Index will fluctuate around 727 points. At the same time, the market entered an accumulation period showing that the short-term risk has decreased significantly and the profit-taking pressure may increase in the next few sessions and the market will appear with continuous shaking waves in the next few sessions.

Bao Viet Securities Corporation (BVS)

VN-Index is expected to challenge the resistance level of 745-750 points in the next few sessions. Here, the market is likely to be under profit-taking pressure and correcting again to test the support area of 700-720 points.

However, the negative point still came from the strong and prolonged net selling of foreign investors. In addition, risks of market movements in the coming time will come from information on first-quarter business results of enterprises and macro data that will be gradually announced in April.

Investors should only consider the statements of securities companies as a reference source. Securities companies all recommend disclaiming liability for these statements.


News Related


Vietnam gov’t waives taxes to boost economic recovery

More efforts are being made to speed up the economic recovery process while many countries are struggling with the Covid-19 pandemic. Read more »

Singapore otters’ lockdown antics spark backlash

Singapore’s otters, long adored by the city-state’s nature lovers, are popping up in unexpected places during the coronavirus lockdown but their antics have angered some and even sparked calls for a cull. There... Read more »

EVN gears up to meet growing power supply for the dry season

 In order to meet the electricity demand in the dry season in the second quarter of 2020, the Vietnam Electricity Group (EVN) has directed its member units to enhance the management, operation and... Read more »

Got It Founder: ‘Making an educational startup, don’t just take advantage of the money, but also have the heart”

Covid-19 was a “big push” for the education industry Recently, when the Covid-19 pandemic broke out globally, many schools were closed, technology became the “savior” of education. In that context, edtech (educational technology)... Read more »

Lacking orders because of Covid-19, import and export dropped sharply

The Covid-19 epidemic continues to evolve complicatedly in markets which are the main trading partners of our country, negatively affecting Vietnam’s import and export activities. This is an important comment of the General... Read more »

Vietnamese dairy giant Vinamilk enters South Korean market

Vietnamese dairy giant Vinamilk are now available in South Korea to meet growing demand for premium milk products, Yonhap reported citing Vina Korea on May 29. Read more »

Vietnam Airlines completely restored domestic flights after the Covid-19 epidemic

Vietnam Airlines’ flight crews include pilots, flight attendants are equipped with masks, gloves and alcohol-wipes. For the first time since the outbreak of Covid-19, Vietnam Airlines’ domestic passenger flights on May 29 exceeded... Read more »

HAGL Agrico extends the term of bonds

Hoang Anh Gia Lai International Agriculture Joint Stock Company (HAGL Agrico, code HNG, HoSE) has changed the bond issuance plan. Accordingly, the issuance plan will adjust the bond term from 12 January to... Read more »

In the first quarter’s loss, Petrolimex wants to sell 15 million treasury shares

PLX is currently trading at VND 46,150 per share. Petrolimex estimates that it will earn nearly VND 700 billion from trading. Recently published information, Vietnam National Petroleum Group (Petrolimex, Code: PLX) announced information... Read more »

Attracting foreign capital into the stock market

Foreign capital gradually returned After 15 consecutive weeks of net selling, foreign investors began to have net buying sessions on the market. They bought strong portfolio of fund certificates (ETF) such as Diamond,... Read more »