Investors seen practicing caution this week

Investors seen practicing caution this week By Phuong Thao HCMC – As the VN-Index of the Hochiminh Stock Exchange turned volatile last week, investors are seen becoming cautious and reducing transactions significantly this week, thus affecting trading. Bao Viet Securities Company said large-cap stocks may recover this week. However, general trading will likely slow down as investors will continue to realize profits and then wait to get a clearer sign of the next trend. FPT Securities Company said there may be a strong selling pressure in the market early this week. Last week’s index developments indicated numerous bad signs, especially bank stocks that were also caught in downtrend. In the next few days, market turnover may drop as many investors may stay on the sidelines before supporting news, such as third-quarter business results of listed enterprises, trickles in. For the positive scenario in which the VN-Index can bounce back after recent heavy decreases, the recovery will still slow down in the face of net selling pressure by foreign investors and uncertainty over global market developments, the firm said. Speaking at a seminar with stock investors last Friday, Tran Duc Anh, director of macro economy and market strategy department of KB Vietnam Securities Company, said the firm maintains a positive outlook for the market in the last three months of 2018. Local enterprises still perform well, driven by healthy situation of the economy. Technically, the main index may hover in a range between 1,050 and 1,080 points in the fourth quarter… [Read full story]