The stock market in the new week is expected to be more positive when receiving a lot of supportive information - Photo: QUANG DINH
Speaking with Tuoi Tre Online, Ms. Hoang Viet Phuong - Director of SSI Securities Investment Analysis and Consulting Center (SSI Research) - said that the stock market is in a short-term accumulation phase.
* The stock market has just gone through a week of volatility despite no obvious negative news. How do you assess the performance of the VN-Index after falling below the 1,300 mark?
- The 1,300-point mark on the VN-Index is actually just a psychological barrier, while many component stocks have increased to historical highs.
After a long period of increase, the stock market also needs to balance and accumulate in the short term, as well as wait for clearer recovery prospects from economic growth drivers and corporate profits in the last quarters of the year.
Besides, the pressure to withdraw capital from foreign capital flows is also expected to gradually decrease, creating more opportunities for the VN-Index to move to a higher score in a sustainable manner.
Mrs. Hoang Viet Phuong
* In the first session of last week, VN-Index fell 28 points, and ended the week falling nearly 14 points. It seems that most of the reasons assessed to have impacted these sessions are not new, but still haunt the market, what do you think?
- The VN-Index has recovered 11% from the April low, and there has been no significant correction. Therefore, the sudden sharp decline in the first session of the week is a normal risk management reaction of investors when identifying increasing risk factors.
The KRX delay may have disappointed investors temporarily, but they are more concerned about moves to implement a resolution to the FTSE Russell’s emerging market upgrade.
Exchange rate volatility remains a risk factor to watch that could slow the stock market's upward trend, but the economic recovery and the prospect of an upgrade are the main drivers for a medium-term rebound.
* How do you forecast the stock market prospects in the short, medium and long term?
- I believe that with the strength of the Vietnamese economy, if we can maximize the existing opportunities and effectively limit potential risks, it will be a very good condition for the market prospects in the medium and long term, bringing great potential for success in attracting foreign investment capital.
However, in the short term, challenges remain, including uncertainties in the global economy and geopolitics.
The recovery will inevitably be bumpy, but with the Government's determination to support economic development, the market will continue to firmly step into the uptrend.
Information appears as "spiritual medicine" for stocks?
* Mr. Dinh Quang Hinh - Head of Macro and Market Strategy Department - VNDirect Securities Analysis Department:
- The market received some supportive information at the end of the week. In particular, the newly released US inflation data was the information the market expected, reinforcing expectations that the Fed could cut the operating interest rate in the second half of 2024.
Traders are now pricing in a rate cut as early as September and two rate cuts this year, according to CME Group's FedWatch Tool.
Domestically, the General Statistics Office has released positive macroeconomic data for the second quarter. GDP in the second quarter grew by 6.93%, exceeding market forecasts. However, inflation developments still need to be closely monitored in the coming months.
In general, the newly released supportive information can be a "spiritual medicine" for investors after the recent strong correction.
This new week's first session will be quite an important one as the VN-Index confirms whether it has really lost the psychological mark of 1,250 points or not.
Investors should stop selling in this area because we believe that holding stocks in this area will still bring quite positive returns over the next 3 months.
At the same time, investors need to be ready to disburse aggressively if the VN-Index corrects to the strong support zone of 1,200-1,220 points, prioritizing industry groups that have not increased strongly in recent times...
Source: https://tuoitre.vn/co-lieu-thuoc-tinh-than-chung-khoan-tuan-moi-se-ra-sao-2024070107102619.htm
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