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Inside a manufacturing unit of metal firm Hoà Phát Group (HPG). HPG was down 3.5 per cent final week. — VNA/VNS Picture Đức Dũng
HÀ NỘI — The VN-Index is predicted to remain in a downtrend this week, analysts stated, including that liquidity stayed low, implying shopping for demand was weak.
On the Hồ Chí Minh Inventory Alternate (HoSE), the VN-Index misplaced 2.31 per cent, to finish Friday at 1,329.26 factors.
The southern market index had misplaced 2.75 per cent final week.
A median of 541 million shares had been traded on the southern alternate throughout every session final week, value VNĐ15.6 billion (US$680 million).
The market failed to keep up the restoration span from the earlier session and turned down. In latest instances, the market has had reverse ups and downs as a result of low liquidity available in the market, stated Việt Dragon Securities Co.
“It additionally confirmed that money stream is cautious and faces some potential dangers.
“With the absence of supportive money stream and shares that would stabilise the market, the market was underneath downward stress on the finish of the session.
“With the present state of imbalance, VN-Index might want to retest the realm of 1,315 factors within the subsequent session. Market actions are at the moment unstable and probably dangerous, so buyers have to decelerate and restrict new purchases till the market has a ok assist sign and think about holding the portfolio at a protected degree,” the corporate stated.
MB Securities Joint Inventory Firm (MBS) stated that the drop available in the market on the finish of final week didn’t shock buyers, as buyers had cautiously adopted developments on tensions between Russia and Ukraine, on the similar time bracing for US Federal Reserve (Fed) elevating rates of interest.
Notably within the final session of final week, along with the low liquidity, the lower available in the market within the second half of the afternoon session was attributed to the decline of speculative shares that had been offered strongly.
This made the VN-Index unable to maintain the assist degree of 1,330 factors and the index is predicted to retest final week’s short-term backside at 1,260 factors, MBS stated.
“Traders ought to keep cautious when the market’s volatility is growing, decreasing the margin ratio to a protected degree”, MBS beneficial.
SSI Securities Joint Inventory Firm acknowledged that, with the present reducing inertia, it’s possible that the VN-Index will proceed to retest the following assist zone at 1,320 – 1,300 factors. “In case the index varieties and completes the double backside sample within the coming periods, buyers can begin growing the proportion of shares once more,” beneficial SSI.
Building supplies shares had the largest drop up to now week with metal shares like Hoà Phát Group (HPG) down 3.5 per cent, Hoa Sen Group (HSG) down 8.1 per cent, Nam Kim Group (NKG) down 7.6 per cent. Chemical shares resembling Đức Giang Chemical substances Group JSC (DGC) down 4.1 per cent, Petrovietnam Fertiliser & Chemical substances Company (DPM) down 5.5 per cent and Petro Việt Nam Cà Mau Fertiliser JSC (DCM) down 7.4 per cent.
They had been adopted by the oil and gasoline and knowledge expertise sectors. Typical losers had been PetroVietnam Technical Providers Company (PVS), down 1.6 per cent, PV Oil (OIL) declined 2.2 per cent, PetroVietnam Building Company (PVC) was down 4.5 per cent, Việt Nam Nationwide Petroleum Group (PLX) misplaced 4.6 per cent, Petrochemical and Bio-Gasoline JSC (PVB) moved down 4.9 per cent, PetroVietnam Drilling and Nicely Providers Company (PVD) misplaced 5.9 per cent.
Within the data expertise business, FPT Company (FPT) decreased by 4.6 per cent, CMC Group (CMG) decreased 2.5 per cent.
The pillar banking business additionally decreased, creating correcting stress available on the market, resembling Vietcombank (VCB) down 1.9 per cent, Vietinbank (CTG) down 2.7 per cent, Saigon-Hanoi Financial institution (SHB) down 4.9 per cent, Asia Business Financial institution (ACB) down 5.2 per cent, Techcombank (TCB) down 5.7 per cent, Navy Financial institution (MBB) down 6 per cent and VPBank (VPB) down 6.9 per cent.
Retail shares like Cellular World Group (MWG) fell 1.7 per cent, FPT Retail (FRT) fell 9.3 per cent, Digiworld (DGW) misplaced 10.4 per cent.
The remaining sectors all noticed a comparatively robust decline, together with business, shopper providers, finance, prescription drugs and healthcare, and shopper items. — VNS
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