Title Week 26_Assessment of BlackRock's announcement to dissolve the iShares ETF fund_20240627
Report Type Báo cáo tuần
Source BSC
Bussiness HOSTC
Detail Date : 27/06/2024
Total pages : 18
Language : English
File Type : .PDF
FileSize : 1869 Kb
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Short Content

GLOBAL STOCK MARKETS

Global key indexes are heading towards new highs this week
The artificial intelligence boom continues to push the US stock market to unprecedented highs. Commodity, exchange rates, and bond markets are almost flat, with data showing the US economy is weakening. 
- The US stock market increased by an average of 2%, EU600 by +1.3%, while Asia decreased, with Nikkei225 down by -0.7% and CSI300 by -1%.
- Commodity index +0.02%; oil prices +3.9%, gold +1.4%; agricultural prices decreased: wheat -6.3%, cocoa -5.1%.
- DXY index +0.2% and 10y US  bond yield flat at 0.02% for the week.
The UK CPI dropped from 2.3% in April to 2% in May. Cooling food prices were the main driver for the inflation drop. Despite this, during its June 20 meeting, the Bank of England (BOE) decided to maintained the interest rate at 5.25%, where it has been since August 2023. With many large countries currently struggling with persistent inflation, the BOE is remaining cautious and waiting to see if inflation will sustain the 2% level in the upcoming months.
US final GDP release, initial unemployment claims, the U.S. core PCE index, and the CPI figures for Australia and Canada are among the important data points next week.
 
VIETNAM STOCK MARKET
The VN-Index experienced a fluctuating week due to ETF portfolio restructuring
The VN-Index rose by 0.16%, with liquidity increasing by 8% compared to the previous week. The market saw volatile trading around the 1,280-point level.
- The market received numerous updates from the National Assembly session and government directives.
-  The market is divided with 6/18 sectors gaining points. Funds shifted into the tourism, entertainment, and auto parts sectors, while profit-taking occurred in financial services, food and beverage, and oil and gas sectors.
- Foreign investors net sold USD 187 million, a decrease of USD 22 million from the previous week. Net selling value is expected to narrow as Fubon raises funds and resumes net buying.
The sideways market still creates opportunities for cash flow to shift. Investors should maintain a suitable investment ratio but might consider trading strategies that involve buying low and selling high within narrow price fluctuations.
Resolution 93/NQ-CP continues to emphasize the primary tasks of fostering growth, controlling inflation, and stabilizing macroeconomy, thereby striving to achieve the upper range of the National Assembly's growth target of 6-6.5%, keeping inflation at the lower range of 4-4.5%, resolving difficulties in production, business activities, and real estate sector, offering tax and land use fee deferrals and reductions, and promoting credit growth and public investment disbursement.