A steel production line of Hòa Phát Group (HPG). HPG rose 16 per cent last week. — Photo hoaphat.com.vn HÀ NỘI — The Vietnamese stock market is forecast to move higher this week, where correction and volatility are expected, analysts said. The benchmark VN-Index on the Hồ Chí Minh Stock Exchange (HOSE) decreased 1.16 per cent to end at 852.74 points. The index had gained 3.1 per cent last week. An average of 308.2 million shares were traded on the southern exchange during each session last week, worth VNĐ5.5 trillion. “The VN-Index is forecast to head toward resistance 860-880 points early next week, where there could be adjustments,” said Nguyễn Đức Hoàng, market strategy analyst at Bảo Việt Securities Company (BVSC). “The market is also expected to fluctuate widely next week with the review session of EFTs tracking MSCI,” Hoàng said. “Foreign investors have also balanced out their net buying and selling activities recently,” he added. “Stock exposure should be maintained at 30-40 per cent of the portfolio. Investors should continue to hold current positions and hold off on buying new stocks. They should consider selling short-term positions at the resistance 860-880 points zone,” he said. Since the beginning of… Read full this story
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