HIGHLIGHTS
International News:
The US stock market continued its upward trend, with the S&P 500 and Dow Jones closing at record highs on Friday. The S&P 500 rose by 0.4% to 5,864.7 points, the Dow Jones increased by 0.1% to 43,275.9 points, and the Nasdaq gained 0.6% to reach 18,489.6 points. Over the week, the Dow Jones climbed nearly 1%, the S&P 500 increased by 0.9%, and the Nasdaq rose by 0.8%.
National news:
Standard Chartered Bank has revised its GDP growth forecast for Vietnam in 2024 to 6.8% (up from 6.0%) due to positive results in the third quarter. The GDP growth for the fourth quarter is expected to reach 6.9%. Economists highlight that Vietnam's growth drivers include exports, imports, retail, real estate, tourism, construction, and manufacturing. Foreign Direct Investment (FDI) and trade recovery are key factors supporting growth. Disbursed FDI rose by 8%, and committed FDI increased by 12% in the first nine months of 2024. Additionally, a 15% growth in manufacturing exports has significantly contributed to economic expansion.
TRADING STRATEGY
The stock market ended slightly down at 1,285 points on the last trading day of the week, with liquidity matching the weekly average. There was positive capital flow in banking sector stocks, while selling pressure mainly affected stocks in financial services, basic materials, chemicals, and retail sectors. The VN-Index is expected to fluctuate around the 1,285-1,290 point range today.
The market is currently experiencing a phase of differentiation alongside re-accumulation within the medium-term uptrend, aiming to breach the psychological threshold of 1,300 points. Capital flow continues to focus primarily on large-cap stocks in general and the VN30 group specifically. Investors are advised to maintain their strategic portfolios while cautiously increasing their holdings in fundamentally strong stocks as the year-end approaches, prioritizing those with outstanding Q3 results and growth expectations for Q4 2024.
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