Market to maintain uptrend in post Tet period The benchmark VN-Index on the Ho Chi Minh Stock Exchange finished the last trading day of the Year of the Pig (January 23) at 991.46 points. In the final trading week before Tet (Lunar New Year) holiday, the index rose a total 1.27 per cent. The HNX Index on the Ha Noi Stock Exchange ended January 23 up 0.65 per cent, closing at 106.28 points, ending the week 2.31 per cent higher than the previous one. According to Bao Viet Securities Co (BVSC), successfully penetrating through the resistance zone of 970-972 points, the market is trending upward and will possibly approach a resistance zone of 995-1,000 points in the short term. “Historically, this zone has challenged the market many times. Therefore, we leave open the possibility that the market will face volatility and correction pressure at this zone,” BVSC said. According to BVSC’s statistics, since 2010, the market has usually increased in 10 sessions after the Tet holiday with a strong increase in trading volume and value. In 8 out of 10 observed years, the VN-Index increased at an average of 4.31 per cent. Trading volume increased in 8 out of 10… Read full this story
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