Investment Comments
Vietcombank Securities (VCBS): From a technical perspective, VN-Index continues to maintain a positive recovery. Looking at the daily chart, VN-Index is recovering to touch the 1,090 point area. Most indicators are still giving positive signals and there are no signs of peaking. However, with the current developments, VN-Index will stick to the 1,090 - 1,095 area and may fluctuate and accumulate here in the coming sessions before showing a clearer trend.
VCBS recommends that investors can disburse an additional 10-20% for stocks available in their accounts in industries that are attracting good cash flow such as banking and steel.
KB Securities (KBSV): The index closing at the session high shows that the buyers continue to dominate and leave open the opportunity to expand the recovery in the following sessions. However, with the downtrend still playing a dominant role, VN-Index is likely to soon face correction pressure around the resistance level of 1,095 points.
KBSV recommends investors avoid chasing and selling to reduce the proportion to a safe threshold during early recoveries.
East Asia Securities (DAS): After two sessions of reversal from decline to increase, many stocks have had quite good returns, so there is profit-taking pressure. The stocks are being supported by the price base around the 200-day MA line, short-term risks have decreased enough to stimulate investors to disburse in the hope that the market will return to the uptrend cycle.
Investors can implement a trend-following trading strategy, avoid chasing and take advantage of corrections to disburse to increase medium-term positions in securities, real estate, and infrastructure construction groups. For long-term portfolios, they still hold banking and industrial park stocks.
Stock news
- Following the stock market, oil prices also increased slightly, previously oil prices increased by more than 3%, after Reuters news agency reported that Saudi Arabia continued to maintain production cuts of 1 million barrels/day until the end of December.
- Not only the Fed, but a series of other major central banks such as the Bank of England (BOE) and the European Central Bank (ECB) have also paused raising interest rates recently. This factor has helped cool down bond yields. In addition, data from the US Department of Labor showed that the number of initial jobless claims last week increased slightly to 217,000, a higher-than-expected figure, also contributing to the slowing economy, thereby reducing inflationary pressure.
- The Ministry of Industry and Trade estimates that the export turnover of wood and wood products in 2023 will only reach about 13.6 - 14 billion USD, down 11 - 14% compared to 2022 due to slow recovery of the global economy .
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