HIGHLIGHTS
Vietnam’s economy is projected to exceed the 6.5% growth target in 2024, supported by robust exports and public investment. In the first 10 months, export turnover reached $323.9 billion, up 14.9%, with key contributions from electronics, textiles, and fisheries. Public investment also accelerated, with disbursements totaling VND 68 trillion, an increase of 4.9%, focusing on major projects like the North-South Expressway and Long Thanh Airport. Q3 GDP growth hit 7.4%, driving the 9-month growth rate to 6.82%, well above expectations. However, the USD/VND exchange rate faces upward pressure due to a stronger USD and volatile international capital flows. To ensure macroeconomic stability, closer coordination between fiscal and monetary policies, along with continued economic reforms, is crucial.
TRADING STRATEGY
The stock market declined to 1,205 points, with liquidity falling to its lowest level in 10 sessions. Although selling pressure was not overwhelming, it was widespread across most sectors. Leading stocks in technology, services, chemicals, and retail had the most significant impact on the VN-Index, which is expected to trade within the 1,200-1,210 range today.
Caution dominates the market ahead of the November derivatives maturity date, contributing to selling activity that has weighed on the index. Many stocks, including key sector players, are now in oversold territory, indicating potential for a reversal. Investors are advised to maintain balanced portfolios, focusing on strategic stocks with mid-to-long-term potential. For short-term trades, priority should be given to individual stocks with strong cash flow support and limited recent price increases.
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