Ngoc Suong, a stockbroker at a South Korean securities company, said one of her customers recently returned to the market with a VND2 billion (US$80,600) investment in some blue chips.

The customer pulled out in June after cutting his losses and said he would not return to the market until the benchmark VN-Index fell below 900 points.

“After the market dipped to 875 points and bounced back, he said ‘that’s the bottom’ and bought two stocks in the VN30 basket.”

In Thu Duc City, Hoang is watching a construction company stock that is now at its lowest level since mid-2020.

Last month Japanese fund he bought the stock at VND32,500, and now it is about VND10,000, and he decided to buy 50,000 shares and plans to buy more if it falls lower.

“I trust that the stock is at its bottom now.”

On many investment groups on social media, people are starting to buy the dip after months of inactivity as the VN-Index fell to new lows this year.

After two years of rising and finally topping the 1,500 level in the first quarter of this year, the benchmark fell to its lowest level since October 2020 and has lost 35% this year.

It is now the worst performing index in the world, according to StockQ.

Inflation and problems with the property and bond markets have been blamed for the decline, while globally the Russia-Ukraine crisis and recession forecasts continue to cast a shadow over Vietnamese markets.

But some analysts are expecting a recovery.

Vietcombank Securities said on November 16 that if the buying remains strong, the market could rise for the next several sessions and short-term investors with a high risk appetite could invest 20-30% of their money in sectors such as securities, oil and gas . and retail.

Analysts at Phu Hung Securities advised their customers to start buying shares of well-performing companies in small quantities.

But Vo Cong Minh, director of ACB Securities, said that it is still too early to buy, especially for speculators.

“The win-loss rate is 50-50 if you are [want to] buy and sell within days.”

But he said the recent arrests related to bail would have long-term benefits.

Rong Viet Securities advised its customers to wait for further corrections to ensure an uptrend is established, but cautioned against using leverage that indicates a dead cat bounce.



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