Limit margin borrowing because stocks have not reached the reversal point

Although banking stocks performed quite well last week, VN-INDEX still traded quite negatively, decreasing points across most industry groups. Many stocks/groups of stocks were under strong selling pressure, especially for stocks with business results in the second quarter of 2024 that were not as expected.

At the end of the week, VN-INDEX decreased by 1.25% compared to the previous week to 1,264.70 points. Trading volume increased by 11.61% compared to the previous week, showing strong selling pressure in many stocks as well as a sudden increase in banking stocks. Meanwhile, VN30 was quite positive when it increased slightly by 0.04% compared to the previous week, maintaining above the psychological support zone around 1,300 points. Foreign investors continued to net sell with 767 billion VND at HOSE, focusing on MSN (483 billion), FPT (375 billion), VHM (292 billion) and VPB (203.7 billion). On the other hand, they net bought SBT (448 billion), MWG (274 billion)...

With the current developments, experts from Vietcombank Securities Company predict that VN-INDEX may continue to decrease by inertia in the first sessions of next week and then accumulate again. The main trend of the market will still be towards the 1,300 - 1,310 point area.

After successfully restructuring the portfolio, investors should consider selecting and disbursing a small proportion of stocks with good momentum and not affected by the general market developments in sectors such as securities and retail. In addition, the use of margin should also be limited at this time to avoid potential risks that may suddenly occur in the short term.

According to experts from SHS Securities Company, if no new uncertain negative factors appear, VN-INDEX at a price range of around 1,250 points is still reasonable to consider. Expectations are that it will move towards the resistance zone around 1,300 points when factors such as global geopolitical tensions, inflationary pressures, exchange rates, and foreign net selling cool down.

Short-term investors should maintain a reasonable weight. Medium- and long-term investors should hold their current portfolios, consider increasing new weights, and carefully evaluate based on the second quarter business results and year-end prospects of leading companies. When VN-INDEX continues to adjust, if the weight is below average, disbursement can be considered when VN-INDEX is around 1,250 points. The target is leading stocks with good second quarter business results and positive prospects for the end of the year.

Source: https://laodong.vn/kinh-doanh/han-che-vay-margin-vi-chung-khoan-chua-den-diem-dao-chieu-1369191.ldo