Vietnam market is more negative than the world
(Baonghean) - During the week from November 5 to November 9, 2018, the US and European markets maintained a slight increase, while the Asian markets had mixed developments. The Japanese market continued to increase, but the Chinese market quickly decreased.
The Vietnamese market showed a more negative performance than the world, with the decline of the two main indices VNIndex and HNXIndex recorded at 1.21% & 2.4% respectively. Market liquidity dropped sharply by nearly 29% in transaction value, to an average transaction of VND 3,528 billion/session. The net buying reversal of foreign investors with a purchase value of more than VND 333 billion across the entire market is considered a positive psychological support for the domestic market.
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The derivatives market continued to trade strongly last week with a total market volume of 738,904 contracts, and newly opened OI volume of 88,803 contracts. The VN30 portfolio is showing weakness, focusing on stocks with large capitalization ratios such as VNM, VPB, HPG, VCB, GAS, MWG & PLX. Securities CompanyVNDIRECTAssuming that the future index will continue its downtrend, the strategy recommends prioritizing opening new sell positions in short-term contracts (VN30F1811, VN30F1812) over opening new buy positions.
Indices and many stocks fell quite sharply at the end of the week as the recovery in previous sessions was disappointing due to weak growth and low liquidity. The positive point is that liquidity is still low, showing that sellers have lowered their selling prices but the supply is not too strong. However, considering the context of the USD strengthening again as well as the upward trend of interest rates in the coming time,VNDIRECTI think this is a good time to sell and reduce the portfolio weight. The VNIndex will tend to return to the 885 point area or maybe lower than 840-850 points and buying opportunities will appear when the VNIndex reaches the above target area.
With the desire to provide useful financial and stock investment knowledge to investors, VNDIRECT Securities Company organized the program "Zero-cost study" with the topic "Technical analysis and cycle application in stock investment" in Vinh city on November 17, 2018.
To register, please visit:http://dihoc0dong.com.vn/dang-ky-khoa-di-hoc-0-dong/
