Trading value on the Ho Chi Minh Stock Exchange (HoSE) reached VND104.4 trillion ($4.3 billion) from December 4-8, a sharp increase of 59.9% compared to the previous week.
The Thursday session alone recorded a trading volume of nearly 1.3 billion shares, the highest since September 2023.
After many weeks of fluctuations in a narrow range around the territory of 1,100 points, the VN-Index, representing the HoSE, showed a positive performance in the first sessions of the week, reaching about 1,130 points. However, investor caution increased when the index approached the old peak.
On Thursday, selling pressure suddenly increased sharply, causing the market to plunge. However, demand gradually returned at the end of the session, helping the VN-Index narrow its downward momentum.
Ending the week, the VN-Index gained 2.02% week-on-week to 1,124.44 points with a sharp increase in liquidity.
BID of BIDV bank, MSN of retail giant Masan Group, and MWG of Mobile World Investment Corp. had the most positive impacts on the VN-Index. In particular, BID alone contributed nearly 1.7 points to the index. On the contrary, VCB of Vietcombank was the most negative influencer, taking away nearly 0.3 points.
In contrast to the cash flow of domestic investors, foreign investors continued to be net sellers to the tune of up to over VND3.95 trillion ($163 million) on the HoSE, and VND72.9 billion ($3 million) on the Hanoi Stock Exchange (HNX).
The highlight of the week came from the group of large-cap stocks, notably retail stocks, when many codes still gained well under strong net selling pressure of foreign investors, such as MWG (+9.94%), MSN (+7.64%), PET of Petrovietnam General Services JSC (+5.03%), and DGW of Digital World (+3.3%).
Banking tickers also had a positive trading week with improved liquidity. LPB of LPBank expanded 6.86%, BID 6.35%, OCB of Oriental Commercial Bank 5.62%, EIB of Eximbank 4 .37%, and TCB of Tecombank 4.03%.
Real estate stocks saw a divergence. While L14 of Licogi 14 went up 8.14%, DIG of DIG Corp 6.57%, and PDR of Phat Dat Real Estate Development 6.3%; LDG of LDG Investment Corp lost 12.17%, SJS of Song Da Urban & Industrial Zone Investment & Development JSC 5.22%, and VHM of giant Vinhomes 3.06%.
Top broker Saigon Securities (SHS) believed that the market is still in the second phase of recovery after a deep decline and will gradually form a new accumulation base. In the short term, the VN-Index is expected to soon surpass the resistance level of around 1,130 points to move towards the 1,150-point area.
In the medium-term, the index will find an equilibrium point to accumulate again. It will reach 1,150-1,250 points in a positive scenario, while falling to 1,100-1,150 points in a negative scenario, noted the broker.
Short-term investors can put down money but with caution, it said, adding in the medium and long term, investors can increase their proportion of stocks. They should choose leading tickers with good fundamentals and stable growth potential that are moving in the current accumulation state.
Vietcombank Securities (VCBS) said the VN-Index may continue to fluctuate in the coming sessions towards the territory of 1,140-1,160 points. Investors should maintain their proportion of stocks and can take advantage of corrections to increase or buy stocks that show signs of successfully testing the support area or rising above the resistance zone with convincing liquidity in groups such as real estate, securities, and banking.