Ngoc Suong, a inventory dealer at a South Korean securities firm, mentioned one in every of her prospects not too long ago returned to the market with a VND2 billion (US$80,600) funding in a number of blue chips.
The client had pulled out in June after slicing his losses and mentioned he wouldn’t return to the market till the benchmark VN-Index dipped beneath 900 factors.
“After the market dived to 875 factors and bounced again, he mentioned ‘that’s the underside’ and acquired two shares within the VN30 basket.”
In Thu Duc Metropolis, Hoang has been watching the inventory of a building firm that’s now at its lowest since mid-2020.
Final month a Japanese fund purchased the inventory at VND32,500, and now it’s at round VND10,000, and he determined to purchase 50,000 shares and plans to purchase extra if it falls decrease.
“I’ve confidence that the inventory is now at its backside.”
On many funding teams on social media, individuals are beginning to purchase the dip after months of inactivity because the VN-Index repeatedly fell to new lows this 12 months.
After two years of rising and eventually topping the 1,500 stage within the first quarter of this 12 months, the benchmark fell to its lowest since October 2020 and misplaced 35% this 12 months.
It’s now the worst performing index globally, based on StockQ.
Inflation and issues associated to the property and bond markets have been blamed for the decline, whereas globally the Russia-Ukraine disaster and forecasts of a recession proceed to solid a shadow on Vietnam’s markets.
However some analysts expect a restoration.
Vietcombank Securities mentioned on November 16 that if the shopping for stays robust, the market might rise for the subsequent a number of periods and short-tern buyers with a excessive threat urge for food might make investments 20-30% of their cash in sectors equivalent to securities, oil and fuel and retail.
Analysts at Phu Hung Securities additionally suggested their prospects to start out shopping for in small volumes shares of firms with a great efficiency.
However not Vo Cong Minh, director of ACB Securities, who mentioned it’s nonetheless too early to purchase, particularly for speculators.
“The win-lose price is 50-50 for those who [want to] purchase and promote inside a number of days.”
However he mentioned the current arrests associated to bond issuances would have a long-term profit.
Rong Viet Securities has suggested its prospects to attend for additional corrections to make sure that an uptrend has been established, however warned towards utilizing leverage indicating it’s nothing greater than a lifeless cat bounce.
