HIGHLIGHTS
International News:
The US stock market closed a volatile trading week, with new economic data causing concern for investors. At the end of the trading session on Friday, August 2, all three indexes of the Dow Jones, S&P 500 and Nasdaq decreased, respectively by 1.51%, 1.84% and 2.43%. The US labor market showed signs of weakness in July 2024 when job growth slowed significantly and the unemployment rate increased to 4.3%.
National news:
On August 8, Vũ Thị Chân Phương, the Chairwoman of the State Securities Commission of Vietnam (SSC), and her delegation worked with the Association of Global Custodians (AGC) in Singapore to discuss solutions for upgrading Vietnam's stock market. Representatives from major banks like Citibank, Deutsche Bank, BNY Mellon, and J.P. Morgan Chase NA positively assessed Vietnam's economic development, particularly in import-export, attracting foreign investment, and public investment disbursement.
TRADING STRATEGY
The stock market fluctuated and retreated to 1,208 points with improved liquidity. Selling pressure focused on large-cap stocks in sectors like finance, basic resources, and chemicals towards the end of the session. Meanwhile, sectors that helped lift the index included industrial services, utilities, retail, and those benefiting from public investment. Today, the VN-Index is likely to experience upward fluctuations in the 1,205 - 1,220 point range.
The market is currently in a short-term recovery trend and may experience more mixed increases and decreases to test the supply-demand balance before capital returns to a positive state, helping the VN-Index identify sustainable leading groups and sectors. Investors should temporarily keep portfolio proportion at a reasonable level. Disbursement activities should prioritize holding positions in fundamental stocks with discounted prices at attractive valuations or individual stocks with positive stories.
Investor can see the full Newsletter below: