Stock prices went higher but investors still kept incredulous
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Stocks from bottom-fishing activities last Friday were available for sales but demand was still higher than supply. VNM’s lifting FOL news and rallies of global stock markets made investors’ sentiment more positive. VNIndex increased by 8pts and market breadth also became wider with number of gainers overwhelming number of losers. However, current market movements may be impacted by “NAV catalyst†(many investors believed that stocks owed by large funds would go higher in last days of Q2). Cash flows at large cap stocks also surged to over VND1,000 billion in HSX, an attractive demand for uptrend market. However, we do not exclude the scenario that this cash flows associated with “NAV catalystâ€.
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