In all 5 trading sessions of the week, the market increased. Notably, the last trading session of the week saw the VN-Index surpass the resistance level of 1,450 points. Closing the trading week from July 7 to July 11, the VN-Index stopped at 1,457.76 points, up 70.79 points (+5.1%). This is the 4th consecutive week that the VN-Index has increased.
VN-Index had a strong week of increase led by large-cap stocks and the opening was covered in green with 17/21 industry groups increasing points.
Real estate, steel, banking, and securities are the sectors that have increased strongly. The market's focus is on the codes VIC, VHM, and VCB.
On the contrary, aviation, insurance, and seafood are the three industries under the strongest adjustment pressure.
The market broke out strongly because it was supported by the record liquidity of the stock market since its operation. Cumulatively, the average weekly liquidity on the Ho Chi Minh City Stock Exchange reached VND30,415 billion, up 30.42%.
Foreign investors had a strong net buying week with the value at the end of the week reaching 6,970 billion VND. SSI, SHB and HPG were the codes that this group strongly collected.
Experts from Vietnam Construction Securities Joint Stock Company believe that the market's increase is beyond the expectations of most investors. The bullish signal completely dominates and the market has surpassed the threshold of 1,450 points, the peak price base of the VN-Index was formed at the end of 2021, early 2022 and the matched liquidity reached a record level since the stock market started operating.
Despite the strong increase, a new buying position will be relatively risky in the current context when the VN-Index has had an impressive increase of 383 points from the bottom of 1,074 points until now.
“Therefore, we continue to maintain our view of selling, realizing profits and reducing the weighting strongly when the probability of market correction is currently at a relatively high level,” the expert recommended.
Meanwhile, expert Phan Tan Nhat, Head of Analysis Group, Saigon - Hanoi Securities Joint Stock Company (SHS) said that at the current price range, the total market capitalization is about 325 billion USD, equivalent to 68% of GDP 2024. The VN-Index is aiming for the highest level in 2021, 2022, which is the historical peak.
Therefore, investors should prioritize holding according to the trend, monitor high selling pressure and consider realizing partial profits if any.
Source: https://hanoimoi.vn/tuan-qua-vn-index-tang-70-diem-thanh-khoan-ky-luc-708968.html
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