21/12/2020 - 09:04
Weekly December 21: Market advanced despite FINIs net selling
The bull market continued last week and the VNI posted another +2.1% gain, underpinned by strong liquidity despite FINIs net selling of USD96mn in three bourses, the highest since October. The market dropped by 1.45% on Thursday reflecting USTR’s decision on Vietnam as the money manipulator but it quickly recovered on Friday. We have been highlighting that our VNI target for April 2021 is 1150 points. That figure now suggests just 7.7% upside, but momentum and liquidity conditions suggest this target may be too conservative.
