Workers of PetroVietnam Gas JSC (GAS). GAS dropped 3.8 per cent last week. — VNA/VNS Photo Market analysts and securities companies have varying forecasts for the stock market this week, saying investors should eye potential stocks at reasonable prices. The benchmark VN-Index on the Ho Chi Minh Stock Exchange edged up 0.02 per cent to close Friday at 888.97 points. The southern market index declined a total of 1.39 per cent last week. An average of 348.7 million shares were traded on the southern exchange each session last week, worth VND7.3 trillion (US$314.7 million). According to Mirae Asset Vietnam Securities Co, the VN-Index was in a correcting process after testing the resistance zone of 900 points last week. The index was showing signs of balancing at 883-885 points and the next technical support level is expected to be 875-880 points. The company said cash flow is set to flow into stocks with positive six-month business results. MB Securities JSC said the market was in an accumulation stage and price fluctuations are being narrowed with trading volume decreasing. “Therefore, the domestic market would have a chance to recover in the coming sessions,” the company said. “Technically, the VN-Index is facing the… Read full this story
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