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Next target for VN-Index: 1,400 points

Next target for VN-Index: 1,400 points

Vietnam’s benchmark VN-Index is set to reach 1,400 points soon after recovering from a correction in early June, analysts said. – VnExpress International

Next target for VN-Index: 1,400 points

An investor looks at stock prices on a smartphone at a brokerage in Ho Chi Minh City. Photo by VnExpress/Quynh Tran.

Having risen nearly 2 percent last week to a new peak of 1,377 points, its next psychological threshold is at around the 1,400 mark, and reaching it requires the same high volumes, analysts at KB Securities said.

Average trading in the first three weeks of June was 15 percent up from the May average to VND25.87 trillion ($1.12 billion).

MB Securities said the market has made a successful recovery after the June correction with bank, securities and steel stocks driving it to new heights.

The next target would be 1,420-1,450, it added.

BIDV Securities expected the VN-Index to hover at around 1,350-1,390 points this week, saying the Covid-19 situation would have an impact.

But Vietcombank Securities said there would be a slight fall this week to test the new support level.

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