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Market comment - July 20
Market comment of July 20 is as follows:
VN-Index to continue slide this week: Brokerages
While foreign investors have been in a buying mood 18 straight days, domestic players have still been waiting for further drops on the market before stepping in again.
We expect the market will continue to fluctuate this week. The market will really recover only once daily trading value (at the Ho Chi Minh Stock
Exchange) reaches at least VND1.2 trillion (US$67.4 million) and there is more supportive news for the market.
Au Viet Securities Co.
Last week, two hikes and three falls on the stock market showed that investors were cautious.
The VN-Index will likely slip further as liquidity at both exchanges in HCMC and Hanoi continues to drop for the fifth straight week. The drop is also fueled by the fact that early signs of recovery prompted investors to sell off recently.
We expect the VN-Index will swing between positive and negative this week, with more negative days than positive.
Mirae Asset Securities Co.
The stock market continues its downward trend following a slow cash flow cycle and the central bank’s limiting of the credit growth rate at 13 percent for the last six months of the year.
Investors have become pretty cautious, buying shares at low prices only. The market, however, won’t fall sharply thanks to heavy buying from foreign investors.
We expect the VN-Index will be around 400-410 this week.
Dai Viet Securities Co
thanhnien, dtck
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