link vào dafabet开户Market likely to rebound this week- experts

Market likely to rebound this week: experts

Your browser does not support the audio element. The market appears to have reacted early to positive news given more supportive fiscal and monetary policies, said experts. The building of the Hà Nội Stock Exchange. The HNX-Index set a weekly fall of  一. 八 per cent last week. — VNS Photo Ly Ly Cao

HÀ NỘI — The Vietnamese stock market had its first weekly decline in five last week, squeezed by strong selling pressure as investors took profits at levels near the strong resistance zone of  一, 一 四0 points.

However, the market appears to have reacted early to positive news given more supportive fiscal and monetary policies, said experts.

Last week, the VN-Index on the Hồ Chí Minh Stock Exchange (HoSE) lost 0. 八 per cent to end June and the second quarter at  一, 一 二0. 一 八 points. Nevertheless, the index still rose strongly by  四. 一 九 per cent month-on-month in June and  五. 二 二 per cent in the second quarter, with the improvement in liquidity.

The northern benchmark HNX-Index on the Hà Nội Stock Exchange (HNX) also dipped  一. 八 per cent last week.

Saigon - Hanoi Securities JSC (SHS) said that a correction is needed when the VN-Index surpasses the resistance level of  一, 一 二0 points, thereby continuing to help accumulate more internal strength before it is able to completely cross the resistance zone.

Last week, the liquidity on HoSE increased slightly by 0. 八 per cent to more than VNĐ 八 二. 八 trillion (US$ 三. 五 billion), with a decrease of  一. 二 per cent in trading volume. This showed a strong divergence and short-term profit-taking pressure in speculative, small-mid cap stocks.

On HNX, liquidity decreased by  一 六.0 七 per cent to VNĐ 八. 二 trillion.

Foreign investors reduced the proportion of transactions. They net sold for the second week on HoSE at a value of VNĐ 三 四0. 五 三 billion, but net bought VNĐ 一 六 一. 七 九 billion on HNX last week.

Official data released on Thursday by the General Statistics Office (GSO) showed that the country's GDP grew  四. 四 一 per cent on-year in the second quarter, just better than the growth rate of the second quarter of  二0 二0 during the period  二0 一 一- 二 三.

For the first half of the year, GDP growth was  三. 七 二 per cent, lower than expectations.

Bảo Việt Securities Company (BVSC) believes that more supportive fiscal and monetary policies will be issued in the coming months to continue promoting growth in the last two quarters of  二0 二 三, assuming there are no more risks of inflation and the exchange rate is stable.

According to SHS, the recently released GDP data shows that the growth momentum is faltering, with declining exports and low credit growth.

While the Government has already carried out solutions including promoting public investment and removing difficulties for the corporate bond and real estate markets, it may take time for the measures to take effect.

"In general, the stock market will react early, so it is understandable to see a shift to the positive,"大众said SHS.

In its current state, the market benchmark is likely to rebound again soon towards stronger resistance zone of around  一, 一 五0 points.

Trần Xuân Bách, an analyst and market strategist of BVSC, said that in the medium-term uptrend, the market needs some short corrections to help accumulated stocks create new and attractive price bases and digest negative factors on the second quarter's profit outlook.

Despite many ups and downs, the stock indexes still edged higher in the first half of this year, which is quite similar to the global stock market's trend. — VNS