I. VIETNAMESE STOCK MARKET WEEK 16-20/12/2024
Trading: The main indices moved in different directions during the last trading session of the week. By the end of December 20, VN-Index increased by 0.23% from the previous session, reaching 1,257.5 points. In contrast, the HNX-Index decreased by 0.21%, settling at 227.07 points. For the whole week, the VN-Index lost a total of 5.07 points (-0.4%), while the HNX-Index slightly rose by 0.07 points (+0.03%).
The stock market last week witnessed a tug-of-war situation amid cautious sentiment. The VN-Index mostly fluctuated around the 1,260-point level, with liquidity remaining below the 20-week average. News from the Fed about interest rate policy orientation for 2025 caused Vietnamese stocks to face selling pressure, similar to most global markets, resulting in a sharp decline on Thursday. However, the market’s recovery efforts at the week’s end helped the VN-Index narrow its losses, ending the week at 1,257.5 points.
In terms of impact, HVN, VNM, and FPT were the main pillars that contributed positively to the market today, helping the VN-Index gain more than 2 points. In contrast, the top 10 negative stocks took away just over 1 point from the overall index, led by HPG and BVH.
All sectors ended the week in the green. Transportation and telecommunications were the main highlights today, attracting strong buying interest from the beginning of the session. The most notable were the purple colors of HVN, MVN, VOS, VTO, and YEG. In addition, many other stocks recorded outstanding gains, such as ACV (+4.38%), PHP (+4.57%), HAH (+1.65%), SGP (+6.37%), VSC (+1.94%); VGI (+3.23%), FOX (+2.22%), etc.
The financial and utility groups ranked last, inching up slightly by less than 0.1%. A dominant divergence prevailed, with most stocks fluctuating slightly around the reference price, except for a few names with more significant movements, including SSB (+1.21%), SGB (+2.48%), VAB (+2.25%), PVI (+4.24%), BVH (-2.29%), VND (-1.93%); DTK (+6.19%), QTP (+1.38%), GEG (+2.22%), TMP (+2.96%), POW (-1.61%), TDM (-6.48%), DNW (-6.3%), etc.
Foreign investors continued to be net sellers, with a value of more than VND 1,500 billion on both exchanges last week. Specifically, they net sold nearly VND 1,400 billion on the HOSE and over VND 113 billion on the HNX.
Trading value of foreign investors on HOSE, HNX, and UPCOM by day. Unit: VND billion
Net trading value by stock code. Unit: VND billion
Stocks with significant increases last week: YEG
YEG rose by 29.25%: YEG experienced a vibrant trading week, surging by 29.25%. The stock continuously soared with the emergence of a Rising Window candlestick pattern. At the same time, the trading volume exceeded the 20-day average, indicating a very optimistic investor sentiment.
However, the Stochastic Oscillator indicator has entered the overbought zone. If a sell signal appears in the next period, the risk of a downward correction will increase.
Stocks with significant decreases last week: VCA
VCA fell by 13.41%: VCA underwent a rather negative trading week, continuously losing ground in 3 out of 5 sessions. Nevertheless, the stock’s recovery efforts in the last two sessions of the week eased the downward pressure.
Currently, the index is still maintaining above the Middle line of the Bollinger Bands. If it holds above this threshold, coupled with a trading volume surpassing the 20-day average, the short-term outlook may not be too pessimistic.
II. STOCK MARKET STATISTICS FOR LAST WEEK
Economics & Market Strategy Division, Vietstock Research Team
The Market Outlook: A Cautious Tone for the Short Term?
The VN-Index rebounded after testing the middle Bollinger Band, with trading volumes remaining below the 20-day average. This indicates a continued lack of liquidity in the market. Currently, the Stochastic Oscillator indicates a sell signal, and if the MACD follows suit in upcoming sessions, the risk of a correction will increase.
The Market Beat: Transport Sector Shines Amid Dull Liquidity
The market closed with the VN-Index up 2.83 points (0.23%) at 1,257.5, while the HNX-Index fell 0.47 points (-0.21%) to 227.07. The market breadth tilted towards gainers with 452 advancing stocks against 284 declining stocks. The VN30 basket saw a slight dominance of green with 14 gainers, 12 losers, and 4 stocks unchanged.
Vietstock Weekly: Navigating Short-Term Risks
The VN-Index ended a rather pessimistic trading week as it continued to lose points and fell below the Middle Bollinger Band. The decline was accompanied by a drop in trading volume below the 20-week average, indicating limited participation of funds in the market. Currently, the MACD indicator is poised to give a sell signal as it narrows its gap with the Signal Line. Should this occur in the coming period, the index’s situation will turn even more negative.
Stock Market Week of 12/16/2024 – 12/20/2024: Caution Prevails
The VN-Index edged higher last week, with alternating sessions of gains and losses. While the index inched up, the trading volume fell below the 20-day average, indicating that investors remain cautious. Moreover, foreign investors’ continued net selling streak suggests that the short-term outlook for the market is still not optimistic.
The Cautious Sentiment Rises
The VN-Index witnessed a negative trading session with a decline in trading volume below the 20-day average. This indicates a resurgence of cautious sentiment among investors. However, it’s important to note that the index is currently sitting above the middle Bollinger Band. If the index manages to hold its ground above this level in upcoming sessions and the MACD indicator continues to flash a buy signal, the situation may not be as pessimistic as it seems.
