Vietnam’s benchmark VN-Index is set to reach 1,400 points soon after recovering from a correction in early June, analysts said.
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Having risen nearly 2 percent last week to a new peak of 1,377 points, its next psychological threshold is at around the 1,400 mark, and reaching it requires the same high volumes, analysts at KB Securities said.
Average trading in the first three weeks of June was 15 percent up from the May average to VND25.87 trillion ($1.12 billion).
MB Securities said the market has made a successful recovery after the June correction with bank, securities and steel stocks driving it to new heights.
The next target would be 1,420-1,450, it added.
BIDV Securities expected the VN-Index to hover at around 1,350-1,390 points this week, saying the Covid-19 situation would have an impact.
But Vietcombank Securities said there would be a slight fall this week to test the new support level.
- Stock comment on June 22: The correction is likely completed, the sentiment is more optimistic
- VN-Index wraps 2020 at above 1,100 points
- Stock market commentary on June 24: Cash flow tends to concentrate in small and medium capitalization group
- Stock market commentary on June 23: Continued struggling
- VN-Index has been one of the best performing in the world
- Stock market September 4: The VN-Index regained the level of 900 points, a group of securities surged
- Bull market might continue this week: experts
- Securities on June 26 through technical prisms
- Local stocks decline as real estate outweighs securities