Cash flow ran into industrial park and rubber stocks from March 11-15 with a series of tickers making strong gains.
Among those, GVR of Vietnam Rubber Group surged 19.31%, DPR of Dong Phu Rubber JSC 19.06%, SIP of Saigon VRG Investment Corporation 11.34%, VGC of Viglacera 10.52%, SNZ of Sonadezi Corporation 9.94%, and PHR of Phuoc Hoa Rubber JSC 9.07%.
The Vietnamese stock market continued to record a highly volatile trading week, but with a more positive trend in terms of both score and liquidity.
In the first session of the week, the VN-Index, representing the Ho Chi Minh Stock Exchange (HoSE), dropped to around 1,235 points but recovered well in the next two sessions.
On Wednesday, the benchmark index soared 25.5 points to 1,270.5 with rallies among securities, real estate, banking, and steel stocks driving the strongest increase in the VN-Index in four months. However, in the last two sessions of the week, Thursday and Friday, the index was under correction pressure and reached its resistance area of 1,280 points.
For the whole trading week, the VN-Index rose 16.43 points, or 1.32%, to 1,263.78. Trading value on the HoSE reached more than VND126.16 trillion ($5.34 billion), down 6.6% from the previous week, with an average trading volume of more than 900 million shares per session.
Foreign investors increased trading and net sold VND2.6 trillion ($110.05 million) on the HoSE.
Many stocks recorded strong price hikes during the week, notably industrial park real estate and rubber stocks.
Securities stocks also showed positive developments, with VCI of Viet Capital Securities up 12.23%, VDS of Viet Dragon Securities 10.58%, FTS of FPT Securities 7.93%, and VIX of VIX Securities 6.94%. Meanwhile, most banking stocks declined, such as PGB of PGBank (-3.45%), LPB of LBBank (-3.22%), NAB of NamABank(-2.66%), and SHB of Saigon-Hanoi Bank (-2.56%).
Broker Saigon-Hanoi Securities (SHS) assesses that despite the gain, the VN-Index is still in an area with strong fluctuations and needs more time to accumulate before the next increase.
It does not recommend short-term investors be active in the current stage even though the VN-Index is in a recovery period. Medium and long-term investors should wait for the market to enter a short-term decline to put down money, it advises.
Meanwhile, Vietcombank Securities (VCBS) believes that the current market is not too bad. If the VN-Index continues to correct for accumulation, it is expected to soon regain momentum and return to an uptrend. According to VCBS, investors can take advantage of shaking sessions to buy stocks in groups that attract stable cash flow such as real estate, chemicals, securities, and banking.