HIGHLIGHTS
International News:
The U.S. stock market closed with mixed movements on Monday, August 12, as investors remained relatively cautious ahead of important upcoming inflation data. The Dow Jones index fell by 0.36% to 39,357 points, while the Nasdaq Composite increased by 0.21% to 16,780.6 points, and the S&P 500 was nearly unchanged at 5,344.4 points. Real estate and communication services sectors declined, while technology gained.
National news:
On August 12, exchange rates at commercial banks continued to decrease, marking three consecutive weeks of decline since July 22. The VND has currently depreciated by about 4.1% compared to the end of 2023. Analysts forecast that the VND will depreciate by about 4% in 2024. The State Bank of Vietnam listed the central exchange rate at 24,256 VND/USD, down 4 VND compared to August 9. With a margin of +/- 5%, the ceiling exchange rate is 25,468 VND/USD; the floor exchange rate is 23,043 VND/USD. The State Bank's Exchange Department listed the buying – selling rates at 23,400 and 25,450 VND/USD, respectively.
TRADING STRATEGY
The stock market increased for the second consecutive session, reaching 1,230 points with weakening liquidity. Capital flow slightly rotated in a divergent manner, focusing mainly on technology, chemicals, retail, and oil and gas sectors. Meanwhile, real estate and basic materials were the least positive sectors impacting the overall index. Today, the VN-Index is likely to continue its recovery, aiming for the 1,235 - 1,240 point area.
Although the market has not shown significant improvement in liquidity, the recovery trend is becoming clearer. Many individual stocks have confirmed a return to a new uptrend. This could help the VN-Index maintain a positive state, aiming to conquer the resistance zone around 1,250 points. Investors can consider new purchases/increasing positions in individual stocks with unique stories or stocks in sectors with superior momentum compared to the general market, such as oil and gas, textiles, chemicals, etc.
Investor can see the full Newsletter below: