Vietnam’s stock market still attractive to investors: report
The relatively low devaluation of the VND against the USD in comparison with that of other currencies in the region shows that the Vietnamese stock market remains an attractive destination for investment flows, as uncertainties persist in most of the global financial market, according to a weekly investment strategy report of the Vietcombank Securities Co., Ltd (VCBS).
Hanoi (VNA) - The relatively low devaluation of the VND against the USD in comparison with that of other currencies in the regionshows that the Vietnamese stock market remains an attractive destination forinvestment flows, as uncertainties persist in most of the global financialmarket, according to a weekly investment strategy report of the VietcombankSecurities Co., Ltd (VCBS).
That the US Dollar Index continues to decreaseslightly and the State Bank of Vietnam’s successful increase of foreignexchange reserves in the past week is considered a positive signal for the domesticmarket, it said.
In the short term, the liquidity of the VND willcontinue to improve significantly, resulting in the possibility of interestrate reduction in the interbank market.
At least 12 commercial banks, notably Vietcombank and Agribank,have announced to reduce lending interest rates to support businesses following a directive from the central bank.
Following a slight increase in the benchmark index andcontinued low liquidity levels in recent weeks, the VCBS believes that the marketwill continue to struggle and fluctuate in a narrow range before the holidays.
Experts from the company recommend short-term investors takeadvantage of the uptrend to take profits on short-term speculative stocks whilelimiting the opening of new transactions until the Lunar New Year holiday.
MB Securities (MBS) said that as the VN-Index gained for twoconsecutive weeks, the upper limit of 1,064 points is still a strong resistancewhen there is no support from liquidity.
The market is expected tobreak out of the accumulation zone after the Lunar New Year or remain sideways,but investors will have opportunities with individual stocks./.
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Illustrative image (Photo: VNA) 
