The Ministry of Finance (MoF) has said that collecting information on businesses using trading apps on mobile phones to support investment in financial products is quite difficult. Investors need to carefully research information about mobilizing organizations and ask partners to provide legal documents before making an investment, such as establishment and operational licenses, business lines, and so on. MoF suggested that investors research information on securities companies, fund management companies, and securities investment funds on the website of the State Securities Commission (SSC).
In a recent letter to investors, Mr. Petri Deryng, Head of the PYN Elite Fund, shared his investment experience and said he believes that healthy economic development and sustainable income prospects will drive Vietnam’s stock market to recover quickly, once the uncertainty subsides. Data from PYN Elite shows that emerging economies, whose stocks are not overvalued but affected by weak global market sentiment, can quickly recover from shocks.
Positive inner-strength will be a driving force supporting the stock market in September, according to Rong Viet Securities (VDSC). It said that Vietnam’s macro data is stronger than expected and regulators are implementing measures to boost transactions in the stock market. In the short term, investors should pay attention to oil and gas stocks and others in industries such as banking, food & beverages, and retail.
The BIDV Securities Company (BSC) has forecast two scenarios for Vietnam’s stock market in September. Under the first, the VN-Index will balance out at 1,270-1,280 points, moving towards 1,300-1,320 points as liquidity improves and positive sentiment spreads through the market. The Ho Chi Minh Stock Exchange (HoSE) allowing the trading of odd lots from September 2 will also have a positive effect on the market. The second scenario will happen if developed economies show signs of recession and negative sentiment appears, with the VN-Index forecast at around 1,240-1,250 points.
Figures from VnDirect show that the VN-Index increased 6.3 per cent in August; higher than most countries in the region. It has, however, fallen by 14.4 per cent since the beginning of the year, but this has still surpassed the MSCI emerging market index.
A number of securities companies believe that now is the best time to accumulate steel stocks, as current valuations are attractive. At the same time, revenue and profit margins at steel enterprises will improve in the second half of this year thanks to a range of positive factors, in particular construction steel demand being expected to recover shortly and public investment disbursement accelerating to the end of the year.
