Markets

The VN-Index ended the week on a bearish note, forming a Three Black Candles pattern that indicates a continued pessimistic sentiment among investors. This suggests that the downward trend is likely to persist in the short term as the Stochastic Oscillator and MACD indicators continue to point downwards after issuing sell signals.

The trading session concluded with a modest gain for the VN-Index, which rose by 6.66 points (0.54%) to reach 1,238.47. In contrast, the HNX-Index witnessed a decline of 1.57 points (0.67%), settling at 236.17. The market breadth tilted towards gainers, as evident by 432 advancing stocks against 287 declining ones. Within the VN30 basket, there was a balance between green and red ticks, featuring 18 gainers, 9 losers, and 3 unchanged stocks.

The VN-Index's continued decline indicates a prevailing bearish sentiment in the market. Accompanied by trading volumes persistently below the 20-week average, the index lacks the impetus for recovery. Furthermore, the downward trajectory of the MACD and Stochastic Oscillator, following their sell signals, portends elevated adjustment risks in the upcoming period.

The VN-Index continues its downward trajectory, failing to recover from the previous week's losses. Investor sentiment remains cautious as trading volumes persist below the 20-week average. Adding to the bearish sentiment, the MACD and Stochastic Oscillator indicators continue to trend downward after signaling a sell-off. These technical indicators suggest that the short-term outlook for the index remains pessimistic.

The market closed with the VN-Index down 10.14 points (-0.8%), settling at 1,254.64; the HNX-Index fell 2.14 points (-0.89%) to 238.38. Bears dominated today's trading, with 530 decliners overwhelming 224 advancers. The large-cap VN30-Index painted a similar picture, with 15 stocks in the red versus 12 in the green and 3 unchanged.

At the closing bell, the VN-Index witnessed a modest gain of 4.49 points (0.36%), climbing to 1,246.60; meanwhile, the HNX-Index rose by 0.86 points (0.36%) to close at 237.52. The market breadth tilted in favor of bulls, with 439 advancing stocks against 278 declining ones. The VN30 basket echoed this bullish sentiment, as 14 constituents advanced, 7 declined, and 9 remained unchanged, resulting in a predominantly green session.

The Middle East, with its vast population of approximately 2 billion, predominantly Muslim, presents a massive opportunity for the Vietnamese export industry, especially in the realm of agricultural produce. This market holds a particular allure as a potential "goldmine" for Halal food products. However, penetrating this market is no easy feat for Vietnamese businesses, as they must navigate a myriad of challenges.

As of August 2024, the agricultural, forestry, and aquatic production and trading activities have been stable, ensuring a steady supply of goods, especially food products, for both domestic consumption and export. The initiatives to stimulate the market and secure new deals have proven effective.

The Vietnam Manufacturing Purchasing Managers' Index (PMI) remained unchanged at 54.7 in July, indicating a significant improvement in the country's manufacturing business conditions across all sectors: consumer, intermediate, and investment goods.

Dak Lak, the country's leader in durian cultivation, is entering the harvest season. However, farmers are concerned about the drop in prices. Ms. Nguyen Thi My, a durian farmer from Hoa Dong, Krong Pak, shared her worries, "The durian pickers are very selective, discarding many subpar fruits. They choose each durian as carefully as they would choose a wife."