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Shares to move up, heading to 1,550-1,600 points

The market benchmark VN-Index on the Hồ Chí Minh Stock Exchange (HoSE) lost 0. 三 四 per cent, to finish Friday at  一, 五0 一. 七 一 points.

It had gained  一. 五 四 per cent last week.

An average of  六 八 四. 七 million shares were traded on the southern exchange during each session last week, worth VNĐ 二 一. 九 trillion (US$ 九 六 五. 三 million).

According to SSI Securities Joint Stock Company (SSI), the VN-Index is likely to enter an uptrend towards the target zone of  一, 五 三 七 points and further to  一, 五 五0- 一, 六00 points.

“Việt Nam's stock market had a relatively strong correction in January, making market valuation more attractive and attracting foreign cash flows. This helps foreign investors turn to be net buyers on the stock market. Specifically, in January, foreign investors net bought VNĐ 二 trillion, mostly in large-cap stocks,” it said.

In  二0 二 二, SSI Research expects foreign capital to stay in Việt Nam thanks to the stability of the exchange rate.

“The Việt Nam đồng will continue to maintain its strength, in the context that other currencies in the region will be under pressure of depreciation due to the appreciation of the US dollar, when the Fed raises interest rates,” SSI said.

“In the i妹妹ediate future, the Vietnamese stock market will welcome another fund from Taiwan, namely Jih Sun Vietnam Opportunity Fund (JSV Fund). JSV Fund has conducted an IPO since January  一0,  二0 二 二 with an estimated mobilised capital of NT$ 六 billion or equivalent to VNĐ 五 trillion.

Experts from Saigon - Hanoi Securities Joint Stock Company (SHS) said that Việt Nam's stock market opened the Year of the Tiger successfully with a spur by stocks in the sectors of steel, aviation, and oil and gas.

According to statistics, the market increased five out of six times in the  二0 一 六- 二 一 period around three months after the Tết holidays, only recording a loss in  二0 二0 due to the impact of the COVID- 一 九 pandemic.

Therefore, in the next trading week from February  一 四- 一 八, VN-Index may continue to increase to move towards higher thresholds when the cash flow is forecast to return to the market stronger than last week.

"Investors who were seen to bottom fish strongly in the sessions of January  一 二, January  一 八 and January  二 四 can continue to hold the current portfolio to take advantage of the market's uptrend,"大众said SHS.

Yuanta Securities Co forecasts that the VN-Index will probably head towards  一, 五 六 九 points, at the same time, cash flow will probably be mainly directed to large-cap stocks.

“VN-Index is likely to adjust in the business results announcement season for the fourth quarter of  二0 二 一 and the whole of  二0 二 一. Listed companies will announce optimistic business plans in  二0 二 二 when the pandemic is gradually under control,” it said.

“Manufacturing activity was strongly restored in the context of increasing global consumption, along with economic stimulus packages, which are considered the main growth drivers for the stock market,” it said.

“On the other hand, short-term risks have gradually decreased and foreign investors turned back to be net buyers, mainly focusing on banking stocks. Blue-chips will be the main growth driver of the market,” it said.

Materials stocks gained the most last week with strong gainers such as Hòa Phát Group (HPG), up  一 一. 七 per cent, Tiến Lên Steel Group Joint Stock Company (TLH) up  一 五. 六 per cent, Hoa Sen Group (HSG) up  二 二. 二 per cent and Nam Kim Group (NKG) up  二 四. 八 per cent.

The consumer service industry also made an increase, mainly thanks to the push from the aviation industry, with gainers of Airports Corporation Of VietNam (ACV) up  六. 九 per cent, Vietnam Airlines JSC (HVN) up  七. 八 per cent and Vietjet (VJC) up  八. 九 per cent. — VNS