HIGHLIGHTED NEWS
The Draft Law on Insurance Business has amended and abolished 7 provisions on business conditions and shortened two administrative procedures to reduce compliance costs, facilitate businesses, while still ensuring risk control and the rights of insurance participants. In addition, the Draft also creates a more transparent and equitable legal corridor to promote innovation and avoid disruption to the system.
The Draft Circular guiding the approval procedures of the State Bank (SBV) for listing shares on foreign stock markets has drastically reduced administrative procedures and abolished many conditions related to the financial situation. These changes help create favorable conditions for domestic banks to list on foreign stock markets, increasing access to international capital in the context of Vietnamese banks facing pressure to increase charter capital.
TRADING STRATEGY
The stock market maintained a positive status and closed at 1,765 points with liquidity continuing to improve. Diversification tends to increase. Cash flow is still mainly concentrated in leading stocks in the real estate industry and some individual stocks in the financial services, banking, and construction industries. Meanwhile, downward pressure appears in stocks in the technology, oil and gas, chemical, and industrial services industries. VN-Index today is likely to fluctuate around the 1,760-1,780 point area.
The market is in a positive uptrend to test and conquer the resistance area around the 1,800 point mark. The general sentiment is stable in the face of international macro fluctuations, helping cash flow to continuously improve. Large-cap stocks continue to play a leading role and regulate the general index. The market is currently in a stable phase in terms of domestic macro factors. Therefore, unusual and unofficial fluctuations from the international market are unlikely to have a major impact on the upward trend of the VN-Index. Investors should prioritize buying and allocating the proportion of stocks held in the medium term in a reasonable manner, focusing on trading stocks with good fundamentals and prospects for year-end business results growth. In addition, short-term trading activities should be managed individually according to the price movements of each stock, avoiding the situation of chasing when prices increase rapidly.
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