Vietnam bourse moving to more positive state: broker

By Khanh An, Nguyen Tuong
Sun, May 21, 2023 | 10:13 pm GMT+7

Investors in the Vietnamese stock market are recommended to observe supply and demand movements at the current resistance area, keeping an eye on short-term opportunities from some stocks with positive technical signals.

Vietnam’s benchmark VN-Index closed this week on Friday in the 1,065-point zone like the end of last week.

This week, trading value on the Ho Chi Minh Stock Exchange (HoSE), the country’s main bourse, increased by 15.5% against last week to VND63.23 trillion ($2.7 billion). The figure for the Hanoi Stock Exchange (HNX) decreased slightly by 0.7% to VND7.95 trillion ($338.7 million).

Foreign investors net bought again, with net spending on the HoSE at VND815.4 billion ($34.75 million), and VND56 billion ($2.39 million) on the HNX.

An electronic board shows price movements in the Vietnamese stock market. Photo courtesy of Youth newspaper.

An electronic board shows price movements in the Vietnamese stock market. Photo courtesy of Youth newspaper.

Securities broker SHS is of the view that the VN-Index moving sideways and accumulating toward the resistance area around 1,150 points shows possible signs of a medium-term uptrend. However, it is likely that this uptrend may not come in case the index is in the 1,000-1,050 range.

"The current period in our opinion is the time the market is moving from a cautious state to a more positive state," said SHS.

According to the firm, the market in the short term has formed a rising wave and opened up opportunities for surfing, therefore short-term investors should take advantage of the market's correction moves to increase holdings.

In the long term, the market is in a state of expecting a new uptrend cycle. Investors should buy leading stocks with good fundamentals and stable growth potential that are moving in the current accumulation state.

Similarly, broker VDSC believes that the market would go up next week, heading to the 1,080-point zone, and investors should observe supply and demand movements at the resistance zone. It is necessary to consider the possibility of taking profits from stocks that have recently rallied rapidly, it added.

Technically, Vietcombank Securities said that the index has turned weak in the short term. The MACD and RSI indicators (both considered momentum indicators) on the daily frame have not shown any reversal signal, meaning that the VN-Index is likely to be re-accumulating after several gaining sessions, and this development is not surprising when cash flows in the market are not abundant.

The VN-Index will likely continue to have mixed ups and downs in a slow uptrend, according to Vietcombank Securities.

Broker KBS thinks that in general, the index’s sideways movement in a narrow range in recent sessions does not mean much in terms of trend. However, the index needs to surpass the resistance level of around 1,07x points to avoid the risk of returning to the downtrend.

KBS recommends investors temporarily stay out of the market or be in with a low proportion.

Comments (0)
  • Read More
HCMC, Astana International Financial Center promote cooperation to develop Vietnam’s international financial center

HCMC, Astana International Financial Center promote cooperation to develop Vietnam’s international financial center

Vietnam and Kazakhstan are focusing on strengthening cooperation in the financial sector, particularly between Ho Chi Minh City and the Astana International Financial Center (AIFC), located in Kazakhstan's capital.

Finance - Thu, July 17, 2025 | 11:52 pm GMT+7

FTSE Russell praises Vietnam for strong reform efforts

FTSE Russell praises Vietnam for strong reform efforts

Representatives of FTSE Russell, a member of the London Stock Exchange Group, on Thursday said they highly evaluate Vietnam's strong reform efforts and commit to continue accompanying the country in the process of market modernization.

Finance - Thu, July 17, 2025 | 11:40 pm GMT+7

Developer of Southeast Asia’s largest exhibition center has new CEO

Developer of Southeast Asia’s largest exhibition center has new CEO

Tran Mai Hoa, chairwoman of Vincom Retail - the retail arm of Vietnamese private conglomerate Vingroup, has been appointed as new CEO of Vietnam Exhibition Fair Center JSC (VEFAC).

Companies - Thu, July 17, 2025 | 9:35 pm GMT+7

Vietnam’s offshore oil field produces first commercial oil ahead of schedule

Vietnam’s offshore oil field produces first commercial oil ahead of schedule

The Kinh Ngu Trang-Kinh Ngu Trang Nam (White Whale-White Whale South or KNT-KTN) oil field, located in Block 09-2/09 off Vietnam's southern coast, welcomed its first oil flow on Monday, one day ahead of schedule.

Economy - Thu, July 17, 2025 | 4:03 pm GMT+7

Leading developer Becamex vows to develop eco-industrial parks in Vietnam

Leading developer Becamex vows to develop eco-industrial parks in Vietnam

Becamex IDC Corp, a leading urban and industrial park developer based in Ho Chi Minh City, is committed to integrating international sustainability standards into the practical operations of its industrial parks in Vietnam, said CEO Nguyen Hoan Vu.

Industrial real estate - Thu, July 17, 2025 | 3:49 pm GMT+7

Northern Vietnam province to address traffic problem for Foxconn’s plant

Northern Vietnam province to address traffic problem for Foxconn’s plant

Authorities in Vietnam’s northern province of Bac Ninh are working to resolve traffic congestion around the Quang Chau Industrial Park in response to concerns raised by Foxconn, a Taiwanese electronics giant and key supplier to Apple.

Companies - Thu, July 17, 2025 | 3:33 pm GMT+7

China firm plans wind power blade manufacturing project in central Vietnam

China firm plans wind power blade manufacturing project in central Vietnam

China's Zhuzhou Times New Material Technology Co., Ltd is proposing a wind power blade manufacturing project in the south-central coastal province of Khanh Hoa.

Energy - Thu, July 17, 2025 | 3:20 pm GMT+7

Investor awareness key to Vietnam’s stock market status upgrade: regulator

Investor awareness key to Vietnam’s stock market status upgrade: regulator

The Investor introduces the speech by Vu Thi Chan Phuong, chairwoman of the State Securities Commission (SSC), at the seminar "Raising investor awareness towards stock market status upgrade" in Hanoi on Thursday.

Finance - Thu, July 17, 2025 | 11:58 am GMT+7

S Korean firm apologizes for employee's assault in Hanoi

S Korean firm apologizes for employee's assault in Hanoi

South Korea's Segyung Hi-Tech, with a subsidiary in the northern Vietnam province of Bac Ninh, on Wednesday issued a formal apology for its employee making an assault on two Vietnamese women in Hanoi.

Companies - Thu, July 17, 2025 | 10:23 am GMT+7

Vietnam’ steel giant Hoa Phat reports 30% profit surge in Q2

Vietnam’ steel giant Hoa Phat reports 30% profit surge in Q2

Vietnam’s largest steelmaker, Hoa Phat Group, posted after-tax profit of VND4.3 trillion ($164.4 million) in Q2/2025, up nearly 30% compared to both Q2/2024 and Q1/2025.

Companies - Thu, July 17, 2025 | 9:43 am GMT+7

Vietnam's fund management industry has chance to make breakthrough development: exec

Vietnam's fund management industry has chance to make breakthrough development: exec

Tax incentive policies will help people have confidence in investment funds and create a habit of long-term and disciplined investment, writes Nguyen Hang Nga, general director of Vietcombank Fund Management Company Limited (VCBF), a joint venture between state-controlled Vietcombank and Franklin Templeton Investments (FTI).

Consulting - Thu, July 17, 2025 | 8:52 am GMT+7

The Investor's seminar 'Raising investor awareness towards stock market status upgrade' is taking place

The Investor's seminar 'Raising investor awareness towards stock market status upgrade' is taking place

The Investor and its Vietnamese-language sister Nhadautu.vn will hold a seminar titled “Raising investor awareness towards stock market status upgrade” in Hanoi on Thursday, July 17.

Finance - Thu, July 17, 2025 | 7:30 am GMT+7

Chinese firms seek to develop smart urban areas in Vietnam

Chinese firms seek to develop smart urban areas in Vietnam

Hong Kong-headquartered CCC Infrastructure Co. and Shenzhen-based Hero Group wish to implement real estate projects in Vietnam, including investments in smart urban areas in the northern province of Bac Ninh and the southern province of Tay Ninh.

Real Estate - Wed, July 16, 2025 | 10:25 pm GMT+7

Construction starts on Hoa Nhon Industrial Park in central Vietnam city Danang

Construction starts on Hoa Nhon Industrial Park in central Vietnam city Danang

Local investor Sai Gon-Da Nang Investment JSC (SDN) has started construction on the Hoa Nhon Industrial Park (IP) which covers 24.75 ha in the central city of Danang.

Companies - Wed, July 16, 2025 | 8:34 pm GMT+7

US starts anti-circumvention probe into aluminum containers imported from Vietnam

US starts anti-circumvention probe into aluminum containers imported from Vietnam

The U.S. Department of Commerce (DOC) has initiated anti-circumvention investigations into disposable aluminum containers, pans, trays, and lids imported from Vietnam and Thailand, according to the Trade Remedies Authority of Vietnam under the Ministry of Industry and Trade.

Companies - Wed, July 16, 2025 | 8:27 pm GMT+7

Vietnamese billionaire-backed VinSpeed raises capital to $573 mln

Vietnamese billionaire-backed VinSpeed raises capital to $573 mln

VinSpeed High-Speed Rail Investment and Development JSC, where Vietnamese billionaire Pham Nhat Vuong holds a controlling stake, has raised its capital from VND6 trillion to VND15 trillion ($573.5 million).

Infrastructure - Wed, July 16, 2025 | 4:33 pm GMT+7