As our previous forecast, Vietnam stock market has experienced a gloomy trading week. We believe that the market’s internal strength is quite weak.
Ending the trading week from June 10 to 14, VN – Index fell 4.67 points to 953.61 points; HNX – Index dropped 0.747 points to 103.46 points. This is the fourth consecutive losing week for the VN-Index and also the seventh week of decline for HNX – Index.
Besides the decline, the liquidity remained low, only about VND 3,600 billion / session on both exchanges.
In fact, in the past week, the market has not had any positive support information to be able to turn up. Meanwhile, movements of the world market are difficult to predict.
Specifically, US stocks experienced a volatile trading week because of unexpected changes in trade disputes and forecasts about Fed’s interest rate adjustment.
Session last week, the rise of US stocks did not last until Friday session (June 14) amid investors being cautious before the Fed meeting next week, while the substance manufacturer Broadcom semiconductor chief warned that weak global chip demand would negatively affect manufacturers.
Closing this session, the Dow Jones industrial index fell 0.07% (17.16 points) to 26,089.61 points; The S&P 500 index dropped 0.16% (4.66 points) to 2,886.98 points and especially the Nasdaq Composite technology index fell the most with a decrease of 0.52% (40.47 points) to 7.796.66 point.
However, this can still be considered a relatively successful trading week for Wall Street when all three major indexes gained. Accordingly, ending the trading week, the Dow Jones index increased by 0.4%, the S&P 500 index increased by 0.5% and the Nasdaq index added 0.7%.
Movements in the US stock market have not been clear when the sessions increased. Therefore, the impact of the US stock market on Vietnam stock market next week is also unclear. Perhaps the internal movements of the market are most influential to the uptrend of the indices.
Last week, world oil price dropped negatively on oil and gas stocks. According to that, pillar codes in petro codes dropped – PLX dropped by 1.6%, GAS (0.9%), PVD (4%), PVS (3.5%), and POW. (, 8%), BSR (3%) …
Oil prices in the past week fell as investors worried that trade disputes would reduce global oil demand. Specifically, US light sweet crude oil (WTI) has dropped 2.7% in the past week, while Brent oil price has also decreased by 2%.
Last week, large-cap stocks of consumer goods also dropped deeply such as VNM down 2.3%, MSN (2.1%), SAB (1.2%) … These stocks were plays a role in keeping pace with the market, but the liquidity is very weak and the motivation for price increase is not much.
Along with that, VIC’s largest market capitalisation stocks were down 1.3%, while the second largest market capitalisation stock was VHM also fell 2.7%. A large-cap stock of real estate industry is VRE which has been moving sideways. Other large-cap stocks such as VJC fell slightly by 0.3%, NVL (2.1%), FPT (2.7%) … Therefore, most large-cap codes are in a downtrend. , some stocks showed signs of moving sideways.
On the other side, bank stocks rose sharply last week with pillar codes such as VCB up to 5.5%, BID (1.4%), VPB (3.6%), MBB (0, 7%) …, contributing to support and help the market only slightly decrease.
The most positive point of the market today is that foreign investors still maintained net buying. Specifically, in the past week, in the whole market, foreign investors net bought 16 million shares with the value of VND 308 billion.