Investors advised to buy more securities, real estate stocks during corrections next week

Investors should take advantage of corrective sessions next week to buy more stocks in the securities and real estate groups, said brokers.

During the latest trading week, January 8-12, banking stocks played a big role in supporting the Vietnamese stock market, attracting large cash flows. The market moved sideways compared to the previous week with a very slight increase of 0.02 points to 1,154.70 points.

The VN-Index, which represents the Ho Chi Minh Stock Exchange (HoSE), fluctuated in a narrow range at around 1,160 points in the first sessions of the week. The highlight came from the last session on Friday when the benchmark index recorded a correction.

The average trading value on all three exchanges (HoSE), Hanoi Stock Exchange and Unlisted Public Companies Market) during the week was VND22.2 trillion ($904.94 million), up 9% from the previous week and 16.5% compared to the five-week average.

Cash flow increased in the banking, real estate, construction and steel groups but dropped off in the securities, chemicals and retail sectors.

Foreign investors continued to be net sellers for the second week to the tune of VND609.4 billion ($24.87 million).

Banking stocks were the focus of attention with many codes gaining amid soaring liquidity, such as CTG of VietinBank (+8.62%), SHB of Saigon-Hanoi Bank (+6.49 %), NVB of National Citizen Bank (+6.25%), OCB of Orient Commercial Bank (+4.56%), EIB of Eximbank (+4.50%), and TCB of Techcombank (+4.37%).

Meanwhile, most of the remaining stock groups are under correction pressure. Notably, among real estate stocks, FIR of First Real JSC plunged 19.71%, HDG of Ha Do Group 7.06%, HDC of Ba Ria-Vung Tau House Development JSC 6.69%, HD6 of Hadico 6 6.58%, and NHA of Hanoi South Corp. 6.21%.

In the oil and gas group, PSH of Nam Song Hau Trading Investing Petroleum JSC lost 11.36%, PVB of Petrovietnam Coating 4.29%, PVC of Petrovietnam Chemical And Services JSC 4%, and PVS of Petrovietnam Technical Services Corporation 3.66%.

Leading broker Saigon-Hanoi Securities (SHS) predicted that as the market may fluctuate further, short-term investors should be cautious.

“The market is gradually consolidating and forming an accumulation foundation, but this process will take a long time, so medium and long-term investors can gradually accumulate shares,” it advised.

Another broker Vietcombank Securities (VCBS) believed that the market is in a correction phase before entering a new uptrend. It recommended investors keep a close watch on market developments in the territories of 1,150 and 1,130 points, taking advantage of corrective sessions this week to buy more stocks in the securities and real estate groups.