Foreign investors still net sold more than 1,005 billion dong on HoSE. In which, codes that were sold a lot were VHM (610 billion dong), VNM (165 billion dong), and CRE (125 billion dong), leading the list of net selling. On the other side, FUESSVFL (227 billion dong), NVL (72 billion dong), and HPG (25 billion dong) were bought the most.
According to analysts of Yuanta Vietnam Stock Exchange, the market can continue its upward momentum in the next session. The next resistance level of VN-Index will be 1,283 – 1,300 points, but Yuanta VN still assesses short-term risks with an increased trend, especially cash flow shows signs of weakness at the rhythm of the market recovery.
At the same time, experts still note that the market is in the distribution stage so the vibrations will appear continuously and the market may not appear sharply down, so investors should not sell off at reduced rhythms.
The short-term trend of the general market remains upside down. Therefore, Yuanta Vietnam recommends short-term investors to continue holding a high proportion of stocks in the portfolio and limit buying in the current period.Market movements of the VN-Index
KB Securities Vietnam (KBSV) said that with a good response to the support near 1.235, the market’s state became more positive. However, the index is likely to shake in the gaining beat to challenge the old peak again and medium-term reversal warning signal (the emergence of large distribution sessions) still needs to be closely watched. Investors are recommended to take partial profits “as expected”, gradually reducing the proportion of medium-term positions in the rally. Buying back part of a trading position may be considered if the index falls to deep support.
Notably, according to Mr. Tran Xuan Bach, an analyst of Bao Viet Securities (BVSC), market movements in this period are likely to continue to be influenced by a few large-cap stocks, together with Accordingly, there is a strong differentiation among stock groups in the market. “Large-cap stocks, especially leading stocks, will still increase in turn to support the market” – BVSC expert said.
Besides, today is also the maturity session of April futures contracts, this event may cause large-cap stocks in VN30 basket to fluctuate strongly in the next session.
Regarding investment strategy, according to Mr. Bach, the appropriate proportion of portfolio at this stage is 70-80% of stocks. The corrections of the market are still seen as an opportunity for investors with a large cash position to increase their stock exposure. “Investors can consider selling to reduce the proportion when the market approaches the resistance area of 1275-1300 points” – recommended Mr. Tran Xuan Bach.
Source: enternews.vn – Translated by fintel.vn