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Weekly wrap: The road to 1000

21/09/2020 - 08:18

The VNI clawed back to above 900 points for the first time in two weeks. Breadth flipped back to positive among the VN30 large caps (24 gainers vs 5 losers) and strengthened on the broad VNI, with 247 gainers vs 121 decliners). The bull market’s recent consolidation phase may be approaching its end, and we believe that the market will strengthen in 4Q20 on loose liquidity, strong technicals (which matter for retail investors), and perhaps even a return of foreign net buying due to Vietnam’s positive growth story in a slow-growth world.

Weekly — September 21