03.09.2020, 11:59

Many large codes gained, VN-Index gained more than 6 points

Many large codes gained, VN-Index gained more than 6 points

In the last session of August, the Vietnamese stock market suffered a strong shaking pressure with profit taking in small and medium-cap stocks. VN-Index was fortunate to stay in green thanks to the push of SAB and some key stocks.

Another negative point of the market was that foreign investors continued to net sell more than 301 billion dong (down 76% compared to last week’s session), corresponding to the volume of 17 million shares. On HoSE alone, foreign investors have been net sellers for 7 consecutive sessions with a total value of 3,245 billion dong.

According to Bao Viet Securities (BVSC), the VN-Index will still face difficulties at the resistance zone of 883-888 points in the next session, after a strong rally from the bottom of 780-800 points, many groups of stocks have stepped into overbought state.

Rong Viet Securities (VDSC) believes that the VN-Index is still cautious despite surpassing the 878-point challenge zone, showing that the resistance is still strong and the market needs more signs to confirm the signal of overcoming 878 points.

Some notable international news

Closing the session on August 31, Dow Jones, S&P 500 fell, Nasdaq increased. Dow Jones lost 223.82 points, or 0.78%, to 28,430.05 points. The S&P 500 fell 7.7 points, or 0.22%, to 3,500.31 points. Nasdaq increased 79.82 points, or 0.68%, to 11,775.46 points, setting a new historic peak.

The MSCI Asia-Pacific Index excluding Japan decreased by 0.72%. The Chinese market rallied from the beginning with the Shanghai Composite down 0.24%, the Shenzhen Component down 0.672%. The Hong Kong’s Hang Seng Index decreased by 0.13%. In Japan, Nikkei 225 increased by 1.12%, Topix increased by 0.83% after being sold strongly at the end of August 28 session because of information that Prime Minister Shinzo Abe resigned. The market continues to monitor developments in Japanese politics. In South Korea, the Kospi decreased by 1.17%. Australia’s ASX 200 index fell 0.22%.

Brent oil futures fell 53 cents, or 1.2%, to $ 45.28 / barrel. WTI oil futures price fell 36 cents, or 0.8%, to $ 42.61 / barrel. Closing August, the price of Brent oil rose 7.5%, the 5th consecutive month of increase. WTI oil prices rose 5.8%, sometimes peaked at $ 43.78 / barrel on August 26, when Hurricane Laura hit the US, and had a fourth consecutive month of increase.

Source: ndh.vn – Translated by fintel.vn