Trading week 6-10 / 5: The focus of US-China negotiations, VN-Index accumulated and waited for opportunities

At the heart of the US-China negotiations, VN-Index accumulated and waited for opportunities

VN-Index




Vietnam News The process of Sino-US trade negotiation is expected to have official results on May 10, with the Fed continuing to maintain the view that keeping interest rates contrary to the expectation of lowering interest rates from investors will be weak. Great impact on the market in the short and medium term.


Trading week in early May with 2 trading sessions (2/5 and 3/5) took place relatively cautiously. The VN-Index mainly fluctuated in a narrow range and ended the week at 974.14 points, down slightly by 0.56% compared to the previous week.

Market liquidity has improved with the average matching value of HoSE reaching VND 2,637 billion / session, an increase of 11% compared to the previous week. This improvement in liquidity has contributed significantly to the structure of VFMVN30 ETF portfolio in the last session of the week.

Last week, trading on the market had a strong differentiation according to Q1 business results. Businesses with good business results such as FPT, PNJ, PVS, SAB still attracted good cash flow. Meanwhile, BVH dropped to the floor price for 2 consecutive sessions after ESOP traded. Besides, stocks with increased weight in VN30 like VNM and MBB also gained well. On the contrary, stocks with a weight reduction like the group VinGroup have decreased.


Regarding foreign trading, in the last two trading sessions, they net bought about VND 100 billion throughout the market. Foreign investors' continuous net buying in recent time (though not so strong as at the beginning of the year) has strongly supported the psychology of investors. In particular, VFMVN30 ETF fund certificates were still net bought by foreign investors of VND 10 billion.

Issuance of ETF funds last week stalled significantly due to the impact of the holiday season. ETFs such as VNM ETF, FTSE Vietnam ETF, iShare ETF are not newly issued, while VFMVN30 ETF's issuance is not much.

Regarding oil price movements, after a period of hot rise in April, oil prices have had a relatively corrective and weekly correction at 61.86 USD / barrel (WTI), down 2.7% compared to before the holiday . However, the movement of oil and gas stocks in general is still quite positive thanks to the expectation of big projects restarting this year.


At the heart of the US-China negotiations, VN-Index accumulated and waited for opportunities

In the next trading week (May 6-10), investors' attention will be directed to the US-China trade negotiations. Issues of the round of negotiations include intellectual property issues, technology transfer, non-tariff barriers or agriculture.

On the night of 5/5 Vietnam time, US President D.Trump suddenly said that he would raise taxes to 25% for 200 billion USD of Chinese goods from May 10, despite the efforts to negotiate the negotiation This will affect the global financial market.

In the country, the Q1 earnings result has come to an end and the market impact will probably not be strong. Instead, the attention of investors will be directed towards the return of new cash flow, in the context of the Vietnamese market is expected to attract a few hundred million dollars when being increased in Frotier Markets group in the month 5 this.

A further concern is inflation. However, according to Bao Viet Securities (BVSC), the increase in electricity price will not cause too great risks to the overall inflation this year when the proportion of electric goods in the CPI basket accounts for only 3.5%. Besides, oil price in the end of this year is forecasted to be hard to increase strongly in the context of slowing global economy and increasing supply of shale oil. Since then, although gas prices have increased, but not too worrisome for inflation this year.

Regarding market movements, after the peak period at 1,015 points in mid-March, VN-Index has entered a correction span lasting nearly 2 months. Recently, VN-Index fluctuated in a narrow range with low liquidity, indicating that the supply pressure is no longer too large. Without unexpected fluctuations from the world, it is likely that the new trend will soon appear, breaking the "triangle" model now.


See more: Vietnamese banks attach importance to each transaction - Consumers benefit


Commenting on the market trend next week, Securities Company SHS said that VN-Index may recover with the target of resistance range from 980-985 points (MA20-50). Investors who reduced their stock proportion in previous recovery sessions should keep their observing position in the coming week and have not rushed to disburse again. It is possible to consider joining again if MACD has crossed above the signal line to form a new rising phase.

Meanwhile, BSC Securities Company said that the development of the Central-US trade negotiation process is expected to have official results on May 10, together with the FED's continuing to maintain the view of keeping interest rates contrary to the period. Hoping to lower interest rates from investors will be a major factor affecting the market in the short and medium term.
 
 
 
Vietnam

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Breaking Vietnam news | Vietnam's #1 News Site | Viet-News.com: Trading week 6-10 / 5: The focus of US-China negotiations, VN-Index accumulated and waited for opportunities
Trading week 6-10 / 5: The focus of US-China negotiations, VN-Index accumulated and waited for opportunities
At the heart of the US-China negotiations, VN-Index accumulated and waited for opportunities
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