At 10:30 AM on April 22, VN-Index rose about 12 points to 1,186.85 points; HNX-Index increased by 3.07 points to 223.91 points; Upcom-Index increased by 0.6 points to 87.75 points.
The stock market was flooded with green as the positive momentum spread from securities, banking and real estate stocks.
However, market liquidity was very low as the trading value on the HOSE floor reached only over VND4,400 billion.
Many investors said they were surprised by the current market developments. Ms. Hoang Nga (living in Ho Chi Minh City) said that after the sharp decline in the session at the end of the week on April 19, her investment advisory group with nearly 1,000 members, the broker recommended everyone to reduce their stock holdings to avoid risks.
The stock market was green this morning, April 22.
“However, this morning, the market rose sharply and many stocks in my portfolio recovered significantly, so I’m wondering whether I should reduce my portfolio weight or hold on to it,” said Ms. Nga.
Experts from VPS Securities Company commented that VN-Index touched strong support in the area of 1,160 – 1,165 points and that today’s rebound was not too unusual as the price index had fallen to the strong support area.
“Investors are still holding their positions. Buying for T+ intraday trading for experienced investors or buying and accumulating stocks is still a priority for those with a lot of cash with a long-term holding strategy. Notable stock groups are finance, steel, oil and gas, industrial real estate, technology, and seaports,” said VPS experts.
Commenting on this week’s trading strategy, Ms. Tran Khanh Hien, Director of Analysis, MB Securities Company (MBS), said that VN-Index had just had the world’s strongest losing week, and some stock groups had also erased their gains from the beginning of the year.
Currently, VN-Index has lost important technical support levels and the correction of nearly 130 points from the peak has lost nearly half of the 5-month consecutive growth wave.
“The 1,150 – 1,180 point zone could be a support zone for this correction. Investors can build a portfolio in the support zone as above and disburse funds according to specific support thresholds in stocks. The recommended stock groups are oil and gas, securities, and groups of stocks that benefit from the exchange rate,” said Ms. Hien.
