The VN-Index fluctuated wildly on the morning of 20/8, reversing from gains to losses and at one point dropping nearly 40 points, marking its sharpest correction since the beginning of the month.
Several investment funds and securities companies expect the VN-Index to reach 1,800 points by the end of this year or mid-next year, even reaching 1,850-1,900 points in a more optimistic scenario.
The operator of the Ho Chi Minh City and Hanoi stock exchanges reported a profit of 1,027 trillion dong in the first half of the year, down more than 17% year-on-year.
The stock market extended its winning streak to 9 sessions, with the VN-Index accumulating 29 points, but declining stocks still outnumbered advancing ones.
According to experts, now is a suitable time to invest in stocks, but a phased capital allocation strategy is necessary due to the high risk of short-term fluctuations.
The Vietnamese stock market has reached a record high, but about 70% of stocks, including many VN30 blue chips, have yet to surpass their previous peaks.
Party General Secretary To Lam has called on the finance sector to drastically reduce regular expenditures, increase revenue, and prioritize investment in major projects capable of transforming and turning around the economic situation.
After a volatile week, the stock market is likely to remain turbulent with alternating gains and losses. Investors should be cautious and focus on strong stocks, according to experts.
Early session buying and cash flow into small and mid-cap stocks weren't enough to lift the VN-Index, as the stock market continued to lose the crucial 1,500-point mark.
The prospect of a market upgrade, coupled with expansionary monetary and fiscal policies, positions Vietnam's stock market to attract significant foreign capital, according to Dr. Ho Si Hoa, director of research and investment consulting at DNSE.
The VN-Index rose more than 14 points, reclaiming the psychologically important 1,500-point mark thanks to strong cash flow into pillar stocks such as banking, securities, and real estate.