Investment Comments
KB Vietnam Securities (KBSV) : With the support and main rhythm of pillar stocks, VN-Index continues to maintain its upward momentum with momentum being reinforced by increasing trading volume.
However, short-term profit-taking pressure will likely put more and more pressure on the index during the recovery process when the short-term downtrend is still dominant.
VN-Index performance on July 31 (Source: FireAnt).
Vietcombank Securities (VCBS) : Stock investors should focus on short-term investment goals at the present stage. In the next few sessions, the index will likely continue to move sideways and accumulate with fluctuations alternating with small amplitudes during the session.
Therefore, stocks that tend to maintain support or overcome resistance should be prioritized, but should only be disbursed with a moderate proportion during this period. Some groups that can be noted include shipping and retail.
VPBank Securities (VPBankS) : Technically, the VN-Index is returning to test the resistance zone at 1,255 - 1,260 points, where the 100-day MA line is located.
VPBankS believes that more fluctuations will appear at this threshold. Breaking through this zone will help the market have a more certain new uptrend.
Stock news
- USD exchange rate slightly decreased, investors "held their breath" waiting for the FED's move. USD exchange rate on July 31, domestic USD increased by 5 VND in both buying and selling directions, world USD decreased when bond yields fell to the lowest level in 4 and a half months.
Traders see a September rate cut as a certainty and are also pricing in a second and possibly third cut later this year. However, the US central bank is also wary of cutting rates too soon in case inflation rebounds.
- Trade surplus of agricultural, forestry and fishery products increased by 60% after the first 7 months of the year. According to the Ministry of Agriculture and Rural Development, the total export turnover of agricultural, forestry and fishery products in the first 7 months of 2024 reached 34.27 billion USD, up 18.8% thanks to the increase in the contribution of most commodity groups. Of which, the trade surplus was 9.42 billion USD, up 60%.
Commenting on the existing limitations, the Ministry of Agriculture and Rural Development said: "Although achieving some of the above results, the agricultural sector still has some limitations such as: Deep processing industry has not developed strongly; maintaining and sustainably developing value chain linkages is still limited".
Source: https://www.nguoiduatin.vn/lang-kinh-chung-khoan-1-8-ap-luc-chot-loi-ngan-han-ngay-cang-lon-204240731195206126.htm
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