[Market News 09/08/2024] PUBLIC INVESTMENT AND TEXTILE & GARMENT HELP THE MARKET REDUCE NEGATIVE OUTLOOK

Some important notes:

– Foreign investors continue the strong net selling trend with selling pressure coming from large-cap groups like VHM, VJC in the last 2 sessions. Currently, foreign investors still own 14% of capital in listed companies, of which 4% is strategic ownership. Thus, another 10% is the portion that can be sold at this time. This net selling trend remains a short-term pressure, although it must be said that in the recent period, domestic demand was the main factor driving the market up or down.

– The VN-Index fell back and tested MA(200). This is also normal. We are still on the sidelines as observers at this time. The back-and-forth movement around MA(200) is not an overly negative signal, but we need to see tighter transactions to start opening long positions. This type of market could take a few days, or a few weeks, to enter a stable phase. Overall, we need a little patience.

– The market is still rotating with an unexpected upward momentum from the public investment group and the textile and garment industry in this upcoming price wave. The price increase of the public investment group after a long period of decline is also a good sign. This partly shows that the market is seeing demand forces seeking profits. At least in this regard, it can prevent the index from falling deeply and curb a sell-off. As long as the risk rotation continues to appear, opportunities will open up for investors.

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SOURCE: AAS RESEARCH

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