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🟩STOCKS RISE SHARPLY, MARKET RECOVERS

🟩POSTED ON SEPTEMBER 12, 2023

🟩The points lost on Monday were recovered, and even “made a profit”. However, the liquidity was lower than the previous session, indicating a certain caution.
The market in September is showing a kind of Choppy Market.

🟩MARKET DEVELOPMENTS TODAY

🟩The market spread rumors that a securities company will test KRX in September (complete the final stage), before going into operation this year.
The securities group is the market leader right now. VND, SSI, MBS all hit the ceiling … however, this group has run far away from the price base, so it is very difficult to find a buying point at the moment.

🟩The VN-Index increased +1.78%, while the positive activity of the banking group helped VN30 increase more strongly, +2.04%.
In general, the recovery took place widely, in both large and small capitalization groups.
The HNX-Index increased +1.99%.

🟩After a sharp decline on Monday, the market rebounded strongly on Tuesday.
The market volatility increased, and showed the characteristics of a Choppy Market (sawtooth market, strong fluctuations are unpredictable).
Sensitivity to information is usually a characteristic of Choppy Market. Note that US CPI and retail data will be released in midweek.

🟩The turnaround today took place with a completely opposite polarity.
If yesterday, the bears completely controlled the game, then today the bulls also tried to do the same.
The number of stocks increased 4 times the number of stocks decreased on HOSE.

🟩However, today’s price action is an Inside Bar compared to Monday, and lower liquidity shows the caution of cash flow.

🟩The group of stocks that was the “main dish” of the bears on Monday today also regained quite well. DXG +5%, while VRE +2.79% …

🟩The fact that foreign investors strongly bought net VIC +2% helped this stock increase in today’s session, and kept MA50 days.
This is the second strongest contributing stock in the VN-Index’s rise, after VCB +1.58%.

The banking group today performed well with VPB +1.83%, MBB +2.67% and TCB +2.17%.
This is a group of stocks that benefit positively from Circular 10 (amending Circular 06).

🟩HPG has just announced sales data for August quite contrary.
In which, construction steel increased sharply but HRC and steel pipes decreased. Consumption volume decreased -7.7% compared to the previous month, down to 610,000 tons.

The national stock today increased +2.67% and stayed above MA50 days.

🟩Vietnam Bond Yield 10-year term decreased 30 basis points to 2.728%.
While exchange rates are less volatile. The stock market is thinking that exchange rate fluctuations are still under control.

🟩Foreign traders bought net slightly more than 100 billion today, focusing mainly on securities group.
This group has recently shown hesitation with exchange rate issues.

🟩According to Bloomberg data, Vietnamese ETFs were withdrawn by $171 million in August, the largest in ASEAN region.
ETFs such as Fibon iShares MSCI Frontier respectively withdrew strongly $7.18 million and $6.78 million.
Domestic block is still the driving factor of the current market.

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