HIGHLIGHTS
International News:
The US stock market ended a volatile trading week, influenced by concerns over the Federal Reserve's response to weaker-than-expected economic data and mixed views on Japan's policy, leading to increased market volatility. Despite starting the week with significant declines, stock indices gradually improved through the trading sessions. By the end of the trading session on Friday, August 12th, all three indices - Dow Jones, S&P 500, and Nasdaq - recorded gains of 0.13%, 0.47%, and 0.51%, respectively.
National news:
HSBC's latest report on "Vietnam at a Glance - FDI" shows that Vietnam continues to attract foreign direct investment (FDI), with the FDI ratio exceeding 4% of GDP, one of the highest in the ASEAN region. Vietnam stands out with its competitive costs and favorable investment environment, especially in the manufacturing sector. In the first six months of 2024, realized FDI capital reached USD 10.84 billion, an increase of more than 8% compared to the same period last year. The government needs to develop a high-quality workforce, especially in the semiconductor industry, to promote sustainable growth.
TRADING STRATEGY
The stock market experienced a surge in points, closing at 1,223 points with liquidity decreasing compared to the previous session. Selling pressure weakened, and capital flows improved significantly, led by stocks in the financial, retail, technology, and F&B sectors. The VN-Index today is likely to continue rising towards the 1,230-point mark.
The market is still maintaining a short-term recovery trend towards the near resistance zone around 1,230 points. The general sentiment is still quite cautious, which may cause the cash flow to need more time to spread, making the liquidity and recovery speed of the general index not able to be similar. Therefore, the current period will be more prioritized for investors who are oriented to buy/hold stocks, with reasonable discounts or attractive individual stories.
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