Spend your purchasing power on the vibrations

Investment Comments

Vietcombank Securities (VCBS): On the daily chart, VN-Index has approached the MA20 line when it is under selling pressure again. Investors are cautious and cash flow is still actively waiting on the sidelines as the market is still in a sensitive phase and the trend is not yet clear. On the hourly chart, the market will still trade within a narrow range in the coming sessions.

Therefore, VCBS does not change its view and recommends that investors maintain their portfolios for stocks that have tended to create a price base after the correction, while considering reducing the proportion of stocks showing signs of losing momentum and falling below the support zone.

Asean Securities (Aseansc): Market sentiment is still very cautious and buying power is unclear. In the short term, Aseansc believes that the market will move sideways around the 1,230 - 1,270 point range.

Therefore, Aseansc maintains the recommendation that investors keep a low stock ratio, saving buying power for "shaky" periods.

East Asia Securities (DAS): VN-Index is in the correction phase from the 18-month peak, needing more time to accumulate to attract buying power. Stock groups will continue to differentiate when receiving information on Q1/2024 business results that are being announced by businesses in the coming weeks.

Long-term portfolio holding strategy, increasing the proportion when stocks have more attractive prices in the VN-Index area of 1,230 points. Pay attention to basic production and business stocks, oil and gas stocks, energy, securities, industrial parks and public investment.

Stock news

- The market is anxiously awaiting an important report due out on the evening of April 10: Key data for the Fed and the path of interest rate cuts. The consumer price index (CPI) will measure the price of a diverse basket of goods and services in the US $ 27.4 trillion economy. The CPI and core CPI in March are expected to reach 3.4% and 3.7% respectively compared to the same period last year. This figure is still far from the central bank's target of 2%.

Economists at Goldman Sachs expect air travel, transportation and lodging costs to decline. But a survey by the New York Fed showed that rents are expected to rise sharply next year. That’s bad news for policymakers, who believe that falling housing costs are the foundation for falling inflation.

- Many factors have caused gold prices to continuously break the mark. In the past 5 days, gold has overcome the "headwind" from the USD, although when the USD increases, it often reduces the attractiveness of gold. In addition, gold has also overcome the resistance from the increasing yield of US Treasury bonds. The USD increased in price thanks to a recent report showing that the US manufacturing industry in March increased for the first time in 1.5 years.

Official data showed factory orders rebounded more than expected, while the number of stocks that impact the number of new jobs rose slightly from estimates in February, suggesting the US economy is gradually strengthening and narrowing the chance that the US Federal Reserve will start cutting interest rates from June .

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