The market will continue to differentiate with increasing risks in the short term.

The Dow Jones Index and S&P 500 fell -0.39% and -0.18% respectively as investors were uncertain about the Fed's decision to continue raising interest rates. Meanwhile, Asian stocks maintained an upward trading week with the region's two main markets, China and Japan, both having positive information.

Faced with mixed impacts from the global financial market, the VnIndex and HNX Index struggled within a narrow range with the two main indices increasing slightly by 0.58% and 0.60% respectively compared to the first session of the week. The news that FTSE Russell put the Vietnamese market on the watch list for upgrading to an emerging market was a highlight that brought quite a positive psychological effect to domestic investors. Cash flow remained quite good with average liquidity reaching VND 7,436 billion/session, of which foreign investors net bought more than VND 467 billion in the entire market. The rotation of industry groups caused the general index to have alternating sessions of increase and decrease, but overall it was still in a sideways up trend.

According to observations, some large stocks have begun to slow down and decline slightly in recent sessions because the fundamental momentum no longer has much room for price increases such as GAS, MSN, VJC, VCB, BID, CTG, PLX, VIC, VNM. On the contrary, there are still stocks with fundamental room for price increases such as MWG, PNJ, CTD, FPT, REE, ACB, MBB. Therefore, Securities CompanyVNDIRECTIt is believed that the next trading week will be inclined towards a possible correction week for the index, but stocks will be differentiated. In particular, mid- and small-cap stocks still have many opportunities to stand out above the general level.

In the short term,VNDIRECTmaintain a cautious view on market risks during this period when the momentum of closing the quarterly NAV of funds has ended and the market is in an information gap waiting for the Q3 business results. Ms. Nguyen Phan Cam Thuy, Senior Investment Consultant,VNDIRECTbelieves that the reasonable strategy is to selectively retain stocks, gradually reducing the proportion when the index approaches the resistance zone of VNIndex around 1,040 points, especially with stocks that have increased rapidly recently.