Stock Market Outlook for the Week of August 5: Last-Minute Escape, Will the Rally Resume?

A weekend rally that pushed the stock market higher does not conclusively indicate that a bottom has been reached, but it is a sign that buying pressure is building.

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The VN-Index’s positive swing during the last trading session of last week (August 2) has brought hopes of a recovery for the stock market this week. The VN-Index reversed its downward trend and ended the session in the green, starting from the 1,210-point region.

At the week’s close, the VN-Index lost -5.51 points, settling at 1,236.6 points, while the HNX-Index shed -5.1 points to close at 231.56 points.

The banking sector buoyed the market, while real estate dragged it down. Foreign investors continued to net sell, offloading more than VND328 billion on the HOSE…

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Bank stocks sold off heavily

Today (2/2), the VN-Index continues to rise, but in a cautious trading atmosphere. It is noteworthy that most banking stocks in the VN30 basket are facing strong selling pressure.