[Market News 26/01/2024] RETAIL RECOVERS STRONGLY AFTER HITTING SUPPORT

Some important notes:

– The level of adjustment in recent sessions seems consistent with the sideways trend of the index. We see that the banking group only adjusted slightly, while other sectors still showed a rotating upward trend. For example, today we saw a recovery in the retail sector after hitting support and breakthrough efforts from the steel sector. Basically, this trend remains positive.

– Trading volume tends to narrow, which is not too concerning as this is a seasonal cycle we often observe.

– The negative news at the moment is that the exchange rate is rapidly increasing and has touched the 25,000 VND mark. However, as we shared, this is a negative factor, but if it does not change monetary policy, then it is not a factor that will reduce the stock market’s upward momentum. Of course, we still need to continue monitoring the State Bank of Vietnam’s policy actions to identify any policy changes.

– Index forecast for January 26, 2024: Statistics do not clearly indicate an upward or downward trading trend, but the closing price will be higher than the opening price. Support is 1,160 points.

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SOURCE: AAS RESEARCH

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