The stock market is heating up, what are the opportunities for investors who missed the "wave"?

Stock market continues to close trading session in green

At the end of the trading session on August 8, VN-Index continued to climb to a new high of 1,242.23 points, up 0.81 points compared to the previous session. This is also the highest level of the stock market since September 2022. Liquidity on the HoSE floor reached VND 23,153 billion, cash flow continued to spread with 242 stocks increasing in price and 238 stocks decreasing in price.

In just over the past 2 months, VN-Index has increased by about 15%, many stocks have increased by up to 100%... In this context, many investors wonder if there is still a chance to buy stocks?

Maybank Securities Company's August 2023 market strategy report believes that the risk of a short-term market correction is very likely. However, this will be an opportunity for investors to accumulate more stocks for long-term investment.

Mr. Hoang Huy, a strategic analyst at Maybank, said that the interest rate cut is improving market sentiment and attracting new investors. The VN-Index increased by 9.2% in July 2023, marking the third consecutive month of increase, the first time since the end of 2021. Market valuation (P/E) has recovered by more than 50%, returning to the 5-year average of 14.9 times from a decade low of less than 10 times at the end of last year.

"There is a risk of short-term adjustment, long-term investors can wait for adjustment to accumulate more stocks" - Mr. Hoang Huy commented.

Among the banks, Mr. Hoang Huy said that we should continue to pay attention to Techcombank (code TCB) and Sacombank (code STB) because of the business turnaround.

Mr. Vo Kim Phung, Deputy Head of Analysis Department - BETA Securities Company, commented that if only looking at the technical chart of the VN-Index by day, investors will hardly dare to "put money" to buy stocks at this time. However, if looking at the weekly chart or longer, the market still has opportunities when the cash flow in recent days has rotated between groups and sectors of stocks. Most notably, in the past few days, the cash flow has strongly flowed into large-cap stocks and banking stocks.

Forecasting the stock market from now until the end of the year, Rong Viet Securities Company expects the VN-Index to fluctuate between 1,100 - 1,350 at the end of the year. Mr. Do Thanh Tung, Deputy Head of Rong Viet Analysis Department, forecasts the market based on the expectation that investor deposits at securities companies from now until the end of the year could reach about 75,000 - 80,000 billion VND, an increase of 10,000 - 20,000 billion VND compared to the end of the second quarter. From there, the average liquidity per session is expected to fluctuate between 18,000 - 20,000 billion VND in the second half of the year.

"Banking is expected to continue to be the industry with the largest contribution not only due to its important role in market capitalization but also because credit capital will begin to be disbursed faster after lending interest rates cool down significantly, current valuations are still lower than the average of the past 3 years," Mr. Do Thanh Tung analyzed.

According to Laborer