Vn-Index

The prospects of the local stock market remain bright and will become a key capital mobilization channel for businesses and the economy, said the finance minister.

The market ended last Friday at 1,505, three points higher than the previous week.

Vietnam stock market recorded a seventh consecutive month with the number of new securities accounts exceeding the 100,000-mark.

For trading sessions from October 4-8, the Vn-Index may continue to fluctuate in the range of 1,320-1,360.

The Vn-Index would move on to the next resistance zone of 1,375-1,380 if it can hold on to the 1,350-mark this week.

The securities company advised investors to buy in mid-cap stocks or blue chips and sell small-cap ones that have earned a sizeable profit for some time.

Stocks from firms in fields of retail, tourism, or aviation may become attractive once the process of reopening the economy is accelerated.

While there may be some fluctuation, the market may have entered its short-term recovery phase and moving to the resistance zone at 1,340.

Investors have been more cautious against the backdrop of the global economy on the downside and Vn-Index’s unsuccessful attempts to surpass the 1,380-mark.

The low-interest-rate environment remains the key driving force for the stock market.