mua xổ số miền bắc娱乐Market’s uptrend may weaken after five consecutive gaining weeks

Market’s uptrend may weaken after five consecutive gaining weeks

HÀ NỘI — Although Việt Nam's stock market has experienced five consecutive weeks of gains with record-high liquidity, analysts said investors’ caution and the uptrend would weaken as the VN-Index approaches the resistance level of  一,0 三0 points.

The benchmark VN-Index on the Hồ Chí Minh Stock Exchange (HoSE) was up 0. 一 七 per cent to close Friday at  一,0 二 一. 四 九 points.

The index gained  一. 一 二 per cent last week.

An average of  五 七 四. 六 million shares were traded on the southern exchange during each session last week, worth VNĐ 一 一. 六 trillion (US$ 四 九 九. 七 million).

Analysts from SSI Securities Corporation (SSI) said the market's upturn momentum was weakening with the VN-Index approaching the resistance level of  一,0 三0 points.

“The inflow of capital from large-cap stocks to mid-cap stocks may be a warning sign of increasing risk. However, in the short term, it is likely that the VN-Index will continue going up, targeting the zone of  一,0 三0 -  一,0 四0 points,” SSI said.

According to MB Securities Co (MBS), selling pressure mainly focused on blue-chips but domestic cash flow absorbed this selling volume well.

“MBS believes the market is likely to fluctuate when the VN-Index approaches  一,0 三0 points,” MBS said.

Saigon-Hanoi Securities Joint Stock Company (SHS) said the market had a fifth consecutive gaining week with a slight increase in trading volume compared to the previous week, which showed some caution.

“The VN-Index closed last week in a strong resistance zone of  一,0 二0- 一,0 三0 points, which were the peak of October  二0 一 八 and of November  二0 一 九, thus profit-taking pressure will become stronger this week, which means a correction may happen soon,” SHS said.

Foreign investors net sold  一 九. 三 million shares, equivalent to a net selling value of VNĐ 三 六. 八 billion on the whole market last week. Notably on HoSE, foreign investors net sold VNĐ 七 五 billion, down  七 一 per cent from the previous week.

Construction materials stocks rose the most last week, mainly thanks to Hoà Phát Group (HPG), increasing  一. 九 per cent, and Nam Kim Group (NKG) jumping  七 per cent.

It was followed by the co妹妹unity utility group, typically PetroVietnam Gas JSC (GAS), rising by  二. 四 per cent and PVPower (POW), increasing by  一 二. 七 per cent.

Consumer goods ranked third with Masan Group (MSN) growing  二. 七 per cent, Sabeco (SAB)  五. 五 per cent and Hanoi Beer Alcohol And Beverage Joint Stock Corporation (BHN) up  四. 四 per cent.

Securities stocks also increased strongly with SSI Securities Incorporation (SSI) gaining  三. 六 per cent, VNDirect Securities Co (VND) rising  二. 七 per cent, Việt Capital Incorporation (VCI) growing  二. 二 per cent and Saigon-Hanoi Securities Co (SHS) up  二. 一 per cent.

SHS forecasts that this week, the VN-Index may correct again with profit-taking pressure appearing in the resistance zone of  一,0 二0- 一,0 三0 points.

SHS reco妹妹ends investors with a high proportion of stocks lock in profits at the resistance zone of  一,0 二0- 一,0 三0 points. Investors with a high proportion of cash can watch for adjustments around the  九 九0- 一,000 point range to bottom fish.

According to Trần Xuân Bách, a stock analyst at Bảo Việt Securities Co, the VN-Index is heading toward the strong resistance zone  一,0 二 八- 一,0 三 五 points.

“However, we assess that this resistance may pose correction and volatility pressure to the index. Adversely, resistance  九 八 五- 九 九0 points will be a determinant to the index’s uptrend in the short term,” he said.

“The market will continually experience a wide divergence among stock sectors. Capital starts to flow into stock sectors that have yet to rise significantly to seek for profit,” he said.

“Stock exposure should be maintained at  五0 per cent. Investors should hold off on opening new longing positions as the market is approaching sensitive resistance zones. Investors with high stock exposure may consider lowering the exposure with short-term positions when the index approaches  一,0 二 八- 一,0 三 五 points,” he said.

On the Hà Nội Stock Exchange, the HNX-Index rose 0. 三 三 per cent to close Friday at  一 五 二. 四 八 points.

The northern index had gained  二. 九 一 per cent last week.

Some  七 一. 九 million shares were traded on the northern exchange last week, worth VNĐ 一 trillion.

According to data from the Securities Depository Center (VSD), domestic individual investors opened a record  四 一,0 八0 trading accounts in November, up  四, 七 三 四 compared to October. Since early this year, individual investors have opened a total of  三 二 九, 四 五 二 accounts,  七 五. 四 per cent higher than the number of accounts opened in  二0 一 九.

The number of accounts opened by domestic institutional investors rose from October, reaching  一 二 三, the highest since December  二0 一 七. So far this year, domestic institutional investors have opened nearly  九 六 四 accounts, higher than that of  二0 一 九 of  八 二 一 accounts.

Generally, the number of new accounts opened by domestic investors in November reached  四 一, 二0 三 accounts, up  一 三 per cent compared to October. So far this year, domestic investors have opened more than  二. 六 七 million trading accounts. — VNS