VN-Index hits historic milestone of 1,600 points

VN-Index hits historic milestone of 1,600 points

On the morning of August 11, the Vietnamese stock market recorded a new milestone when the VN-Index temporarily stopped at 1,600.41 points, up more than 15 points compared to the previous session. The VN30 index also broke out to 1,745 points, adding more than 16 points, while the HNX-Index reached 274.8 points. The transaction value on HOSE exceeded VND24,400 billion, although liquidity did not increase dramatically compared to recent sessions.

This is the highest peak in history, continuing the upward trend that has lasted for many months, bringing market sentiment to a climax but also creating emotional "roller coaster" phases for investors.

Investors sell early, regretfully watch stocks continue to rise

In the morning session, a series of large-cap stocks such as MSN, MBB, VCB, BID, GVR... all increased sharply, helping VN-Index surpass the psychological resistance zone of 1,600 points. However, as soon as it approached this mark, the market shook. Many investors chose to take profits to preserve their achievements.

Ms. Khanh Thy (HCMC), an investor with 5 years of experience, shared: "The broker recommended selling before 1,600 points to avoid the risk of correction after a series of hot increases. My portfolio had many stocks with a profit of 10%-20% so I sold them all. Who would have thought that right after selling, real estate and public investment stocks would increase sharply."

A similar situation happened to Mr. Quang Thanh (HCMC). After selling according to the advice to reduce margin, keeping 50% of the shares and the rest in cash, he witnessed many stocks that he had just sold continue to increase in price. "I lost my goods!" - he said.

Stocks support the market, the uptrend still dominates

According to VPS Securities Company, even if the market corrects, the expected support zone is around 1,550 – 1,570 – 1,580 points. This could be an accumulation phase before the VN-Index moves towards the 1,600 – 1,635 point zone in the next 1-3 weeks. During this time, the market is likely to differentiate, with many large-cap stocks (blue chips) or mid-cap stocks still increasing well even when the index is flat.

MBS's weekly strategy report also stated that the market is in a sustainable uptrend, corrections are only technical and are often quickly absorbed. Liquidity is currently at a record high, far exceeding the peak of the COVID-19 period, showing that cash flow is still abundant.

According to MBS, this could be the period when cash flow is looking for highly speculative groups or groups that have not increased much in the past, such as real estate, oil and gas, industrial park real estate, Viettel shares, seafood, public investment... This is a strategy that many investors expect will help take advantage of the new growth of the market.

Source: https://nld.com.vn/vn-index-lan-dau-cham-moc-lich-su-1600-diem-nha-dau-tu-vua-mung-vua-tiec-196250811114307329.htm