Title Week 21_Evaluation of Some Content Related to the Process of Upgrading the Vietnamese Stock Market_20240521
Report Type Báo cáo tuần
Source BSC
Bussiness HOSTC
Detail Date : 21/05/2024
Total pages : 18
Language : English
File Type : .PDF
FileSize : 2021 Kb
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Short Content

GLOBAL STOCK MARKETS

Major stock markets maintain upward momentum due to positive CPI information.
- U.S. stock market averages over 1% increase, EU600 +0.6%, Nikkei 225 +1.4%.
- Commodity index up 0.1%, with oil +1.7%, gas +11%, and precious metals like gold (+1.1%), silver (+5.4%).
- DXY index -0.7% and U.S. 10-year Treasury yield -0.13% for the week.
April U.S. CPI rose 0.3% from March, 0.4% below forecast; core CPI up 0.3% month-on-month and 3.6% year-on-year, the lowest in 12 months (housing costs up 0.4% month-on-month and 5.5% year-on-year, still a headache for the Fed). Low CPI raises investor expectations for an early Fed rate cut, supporting a positive stock market last week.
Next week, markets await monetary policy minutes from central banks in Australia, the UK, and especially the FOMC. Investors will gain more information to adjust short-term outlooks and expectations.

 
VIETNAM STOCK MARKET
The market impressively rebounded after being oversold.
The VN-Index surged 1.5%, marking its fourth consecutive week of gains. 70% of stocks rose, with 17 out of 19 sectors in the green.
- The banking sector led, benefitting from the proposed extension of TT02 until 2024.
- Positive cash flow boosted multiple sectors, with three up over 3%. Strong performers were those with no prior gains or positive Q1 results.
- Foreign investors remained net sellers, offloading $84 million.
After the session, the VN-Index breached the downward channel, nearing the old peak range of 1,285 - 1,300 points. Investors should avoid chasing prices as the index confirms a long-term uptrend since November 2022.
The 7th session of the 15th National Assembly, from May 20 to June 27, will address crucial legislative and economic matters, including proposals to cut VAT by 2% for the year and implement the Real Estate Law from July 1.