HIGHLIGHTED NEWS
Fund managers believe that returns from emerging market assets will soon outperform those of developed markets, after a period of similar volatility in the latter. Analysts forecast that the MSCI Emerging Markets Index will rise about 15% over the next 12 months, compared with a gain of about 10% for the developed market index. Data from some of the world's largest exchange-traded funds (ETFs) also show that flows into emerging market stocks are also rising faster than those in other markets. The view was reinforced after Federal Reserve Chairman Jerome Powell signaled that the US central bank is likely to cut interest rates at its meeting on September 16-17.
TRADING STRATEGY
The stock market adjusted down to 1,614 points with liquidity falling sharply compared to the average level of the previous trading week. Selling pressure continued to weigh on large-cap stocks in general and leading stocks in the banking sector in particular. On the contrary, some individual stocks in the real estate and financial services sectors played a positive role in supporting the general index. Today, the VN-index is likely to fluctuate around the 1,605-1,625 point area.
The market is in the downward correction phase of the medium-term uptrend. Selling pressure is still mainly concentrated in stocks with high mass, which have gone through a period of overheating with market prices significantly higher than their basic valuations. Foreign investors continue to strongly withdraw from large-cap stocks. The index's near-term support zone is currently around the psychological zone of 1,600 points. Investors should temporarily prioritize controlling the proportion and managing each individual stock, and consider waiting for the market's intermediate recovery to restructure the portfolio instead of chasing sales when prices fall sharply near the support zones.
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