Bui Quang Hoan, a local financial expert, attributed the VN-Index’s early rise last week to net buying after a long phase of capital accumulation outside the market. The index closed Friday at 1,015.73 points.
In the final two sessions of the week, the VN-Index fell marginally as investors again awaited more information to stimulate trading. Throughout most of the week, turnover was low as investors took the opportunity to adjust their portfolios in preparation to make new purchases, say analysts.
Moving forward, the biggest factor in market performance will be mid-year earnings results, said analysts last week, even though revenues for many companies could be predicted given the release of five-month financial data.
Retail investors are also expected to again trade heavily in volatile, low cap stocks that have garnered a great deal of attention in recent sessions for their uncanny ability to outperform the market.
"These kind of stocks bring us instant money, which makes us feel better during the long wait for blue chips to rebound," said Pham Thi Hoa, a retail investor with Bao Viet.
Analysts last week, though, continued to warn investors about the risks involved with trading penny stocks.
There is also concern in the market that the index will fluctuate heavily in the coming week on low turnover, which could encourage more investors to buy into low risk funds, say experts.
SME Securities analysts also advised buying defensive stocks such as telecoms and banks given the potential volatility and general uncertainty in the market.
Source: VNS
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment