The market remains cautious amid a tug-of-war as global investors await the speech of the Federal Reserve (Fed) Chair today (around 9 pm Vietnam time). There are high expectations that the Fed will start cutting interest rates in September.
Domestically, after continuous back-and-forth movements, the VN-Index closed slightly higher as real estate and steel stocks surged at the end of the session. The main index ended the week at 1,285 points. Although HoSE saw a dominance of red stocks with 212 decliners, the VN-Index closed at the highest level of the session as large-cap stocks recovered. During the week, the market gained in four out of five sessions.
Over 20 securities stocks rose in price.
At the end of the session, many VN30 stocks also closed at their intraday highs, such as BVH, GVR, HPG, and CTG. GVR made the most positive contribution to the market. Real estate and steel stocks made a strong comeback, giving a significant boost to the VN-Index as a string of real estate stocks, including NVL, DIG, DXG, PDR, and TCH, advanced and led the sector in terms of liquidity.
Steel stocks painted the market green with HPG, HSG, NKG, VGD, TVN, and TLH all closing in positive territory. In previous sessions, these stocks had faced corrective pressure due to recent steel price movements and anti-dumping investigations in markets like the EU and India.
Securities stocks also regained their momentum, although the increase was not significant, the uptrend was widespread. More than 20 stocks rose in price, with SSI leading the floor in terms of liquidity.
At the close, the VN-Index rose 2.54 points (0.2%) to 1,285.32 points, the HNX-Index climbed 1.6 points (0.67%) to 240.07 points, while the UPCoM-Index fell 0.08 points (0.08%) to 94.41 points. Liquidity was equivalent to the previous session, with the matching value on HoSE exceeding VND14,200 billion.
Foreign investors net sold for the third consecutive session, with a value of over VND106 billion, focusing on HPG, VHM, and PVI stocks.
The Ho Chi Minh Stock Exchange (HoSE) has updated the list of securities ineligible for margin trading. The list added two new codes, ABS of Binh Thuan Agriculture Services Joint Stock Company and RAL of Rang Dong Light Source and Vacuum Flask Joint Stock Company. Thus, the number of stocks ineligible for margin trading on HoSE has increased to 86. Both companies were late in publishing their semi-annual 2024 financial statements, which had been audited for more than five working days as required.
Investing in a volatile market: Should beginners consider putting money into high-yield bonds for 10-30% yearly profit?
Short-term stock market trading has proven to be a risky venture for many investors, leading to substantial losses. However, there are a few select open funds that have managed to achieve impressive returns, reaching up to 30%.
Choose stocks for “Tet” festival celebrations
Investors should consider choosing stocks in the banking industry with good profitability, healthy real estate, and abundant clean land reserves. In addition, the group of stocks in infrastructure investment, iron and steel, and construction materials should also be considered.
