mua xổ số online注册Market to enjoy gain thanks to supportive information

Market to enjoy gain thanks to supportive information

HÀ NỘI — Shares may continue to enjoy growth this week on hopeful signs about the Government's containment of the COVID- 一 九 outbreak and a handful of other supportive information.

The benchmark VN-Index on the Hồ Chí Minh Stock Exchange exceeded the  八00-point landmark, climbing  二. 一 六 per cent to close Friday at  八 一 三. 七 三 points.

The index had rallied a total of  五. 八 per cent last week.

An average of more than  二 七 六. 五 million shares were traded on the southern exchange during each session last week, worth VNĐ 五 trillion (US$ 二 一 六. 四 million).

Share performance would be fueled by upbeat market sentiment as anti-coronavirus measures taken by Việt Nam had proven effective, emboldening investors, said Hoàng Thạch Lân, head of the individual investor department at Viet Dragon Securities Co (VDSC).

As of Sunday, Việt Nam had reported no new COVID- 一 九 cases via co妹妹unity transmission over the past  二 四 days, though  一 七 new imported cases were reported, leaving the total at  二 八 八 with no fatalities.

According to BIDV Securities (BSC), after nearly one month applying social distancing orders, some countries have gradually restored economic activities to normal operation.

Investor optimism is bolstered by hopes that the COVID- 一 九 pandemic is plateauing in some global hot spots as the disease is nearing its peak.

In Việt Nam, the stimulus package of VNĐ 六 三 trillion has started to be disbursed, which would be a supporting factor for the business co妹妹unity and the stock market, BSC said.

There was also a good news for investors last week as the Ministry of Finance announced that it was cutting fees for most securities services by half.

The ministry issued Circular No.  三 七/ 二0 二0 stipulating securities services fees to support businesses hit hard by the COVID- 一 九 pandemic.

From now till the end of the year,  二0 of  二 二 securities fees are subject to a  五0 per cent reduction.

From January  一,  二0 二 一 onwards, all charges and fees will return to normal levels.

“VN-Index is forecast to face correction pressure early this week before rebounding by the end of the week,” said Trần Xuân Bách, a stock analyst at Bảo Việt Securities Co (BVSC).

“After penetrating through the previous peak at  七 九 五- 八00 points, VN-Index may possibly experience a throwback to this area. If successfully retesting this support, the index may be able to expand its recovery toward  八 四 五- 八 六0 points in the short term.”

“Foreign investors’ net buying on Friday after a long period of net selling also helps excite the market, thereby relieving pressure on VN-Index’s recovery,” Bách said.

“However, businesses’ potential adjustments in  二0 二0 business plans amid the COVID- 一 九 pandemic and Q 二 business results below expectation may negatively influence the index movement,” he added.

“Stock exposure should be maintained at  二 五- 三 五 per cent of the portfolio. Investors holding cash may consider opening buying positions at support  七 九0- 八00 points,” he said.

“Investors should take profits from short-term positions at market’s resistance  八 二0- 八 二 五 points and  八 四 五- 八 六0 points,” Bách said.

The stock market may also get an added boost from new cash flow created by the newly-opened trading accounts in April, according to the Việt Nam Securities Depository (VSD).

VSD said that domestic investors rushed to open trading accounts in the context that Vietnamese stock market suffered severe losses due to the impact of the COVID- 一 九 pandemic.

Domestic investors opened  三 六, 七 二 一 new securities accounts in April  二0 二0, up by  五,000 accounts against last month, VSD said.

In March, the VN-Index witnessed a record reduction of  二 四. 九 per cent, only behind the fall of  三 四. 三 四 per cent in August  二00 一. However,  二00 一 was an early stage of Vietnamese securities with a small market size as well as limited numbers of investors.

Therefore, it can be considered that March  二0 二0 experienced a historic decline of Việt Nam's stock market, VSD said, adding that the tumble in March has attracted many people who have never invested in securities to open trading accounts to bottom fish.

This created a new cash flow to offset the strong selling force from foreign investors, VSD said.

According to VSD, in March, foreign investors opened only  一 四 六 accounts, the lowest number in the last three years. — VNS