Title Week 24_The VN-Index is approaching the psychological threshold of 1,300 _20240613
Report Type Báo cáo tuần
Source BSC
Bussiness HOSTC
Detail Date : 13/06/2024
Total pages : 13
Language : English
File Type : .PDF
FileSize : 1555 Kb
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Short Content
GLOBAL STOCK MARKETS
S&P and Nasdaq set records due to technology stocks and reports of weakening
Macro information: The US and ECB lowered interest rates to support the stock market, and precious metal prices increased but also weakened the energy market and the USD index.
- The U.S. stock market increased by an average of 1.5%, EU600 +1.2%, Nikkei 255 +0.4%; CSI300 -0.2%.
-  Commodity index -0.1%; oil prices -2.1%, gas -4.3%, precious metals +1.3% to 1.7%, natural gas +9.4%.
- The DXY index -0.5% and the US 10-year Treasury bill -0.2% over the week.
ECB and BoC cut interest rates by 0.25% to 3.75% and 4.75% respectively. These are two major central banks easing monetary policy following the rate cuts by the central banks of China and Switzerland in March 2024. However, the roadmap to reduce interest rates of central banks is still unclear, depending on macro data. Inflation may be more persistent than expected, with Eurozone inflation rising for the first time this year to 2.6% in May.
Interest rates and the minutes from the FOMC and BOJ, along with Japan's GDP, UK's GDP, China's CPI, and US CPI and jobless claims, are key data points to watch next week.

VIETNAM STOCK MARKET
VN-Index is approaching the psychological threshold of 1,300 points
VN-Index increased by 2% with liquidity increasing by 1% compared to last week.  The market had good gaining breadth with 65% of stocks and 14/18 industries increasing.
- The exchange rate is cooling down, SBV sold gold through state-owned commercial banks, and the international market is positive.
- Cash flow remained good even though liquidity has not clearly improved. Information technology, basic resources, and insurance sectors increased by over 3%; Chemicals and retail sectors decreased by over 0.7%.
-  Foreign investors net sold 60 million USD, a sharp decrease compared to net selling of 231 million USD last week.
Cash flow is still circulating actively supporting the index in the context of average liquidity. The trend is not clear and there are signs of slight negative divergence between price and technical indicators, so investors still need to carefully monitor index fluctuations at support and resistance levels for short-term trading activities.
At the regular meeting in May, the Government assessed that the macroeconomy was basically stable, inflation was controlled, and growth was promoted. 3 breakthroughs include perfecting institutions, training human resources and developing infrastructure, removing digital transformation bottlenecks, and researching business support packages, including new industries such as chips, semiconductors, and green transformation is being actively deployed.