28/12/2020 - 08:40
Weekly December 25: Flooded by strong liquidity
The bull market continued last week and the VNI posted another +1.6% gain, with financials leading the charge. Liquidity continue heading North with ADT of US$731mn. FINIs net sold US$ 17mn second week in the row but the magnitude has declined WoW. GSO just announced the key 2020 macroeconomic indicators, most of which show significant recovery toward yearend. The Index may face short-term technical resistance at 1085 but we still keep highlighting that our VNI target for April 2021 is 1150 points. That figure now suggests just 6% upside, but momentum and liquidity conditions suggest this target may be too conservative.
