VN-Index to stay under 1,400 points this week: analysts

By Dat Nguyen July 11, 2021 | 08:17 pm PT

Investors look at stock prices on a laptop at a brokerage in Ho Chi Minh City. Photo by VnExpress/Quynh Tran.

Analysts expect the VN-Index to fluctuate in the 1,350-1,380 range this week before recovering.

Last week, it went through its worst week since January, losing 5.15 points to close at 1,347 points.

VIC of biggest private conglomerate Vingroup, NVL of real estate developer Novaland Group and HPG of steelmaker Hoa Phat Group were the biggest drivers of the loss.

Analysts of Tan Viet Securities said that investors are not too optimistic about the current market, which is expected to go sideways and would only start to recover if it falls to the 1,400-1,410 range.

BIDV Securities said the index could go as low as 1,320 points this week as it reflects investors’ pessimism.

KB Securities Vietnam did not say if the market would recover soon, but advised investors to keep a medium ratio of stock to reduce risks.

MB Securities said with foreign investors turning buyers in recent sessions and exchange-traded funds continuing to pour money into the market, it expected a "positive development."