VN-Index targets 1,890, 1,945 as upgrade optimism builds
Expectations surrounding Vietnam's impending market upgrade continue to buoy investor sentiment as the country moves closer to its reclassification from frontier to secondary emerging-market status.
The VN-Index, Vietnam's benchmark stock market index, is on track to hit key technical targets of 1,890 and 1,945 points in the upcoming trading week, following its upgrade to secondary emerging-market status. The index, which traded for only two sessions last week due to a public holiday, closed at 1,853.08, surpassing the 1,850-point threshold.
Analysts view this as a positive sign, with the index trading above its 10-day and 20-day moving averages, and key momentum indicators remaining positive. While the index has rebounded from 1,720 to 1,850, it is now targeting 1,890, 1,945, and 2,035 points, with support at 1,790. The phased reclassification of Vietnamese stocks into FTSE indexes is expected to take effect in September, with passive inflows gradually added over the coming year.
However, investors will also need to consider elevated interest rates and geopolitical risks, particularly in the Middle East, which could impact the market.
Written by urgent.news from SGGP English Edition Business's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
