On Tuesday, the Dow shed 0.05%, the S&P 500 lost 0.57% and the Nasdaq Composite tumbled 1.04%, with eight out of the 11 S&P sectors ending lower led to the downside by technology, communication services and consumer discretionary. Those losses came as concerns about upside risks to inflation due to higher oil prices weighed on sentiment, and as investors positioned cautiously ahead of the August CPI report. Analysts expect a 3.6% year-on-year rise in inflation, marking an increase from the previous month’s reading of 3.2%.
The market closed at 1,245 (+21.81 points, +1.78%) with a sharp increase in liquidity reaching more than VND 22,990 trillion, lower than the 20 session average. Most stock codes recorded an increase, focusing mainly on the securities and banking industries. VCB, VIC, and HPG are the three stocks that contributed the highest to the market's increase.
- World stocks: US stocks decreased slightly, the market waited for US inflation data
- Vietnam stocks: The market recovered at the MA10 line, the struggling trend continued
- Business news: #BID, #PNJ, #NLG, #NVL, #AGM, #MWG
- Technical perspective and updated recommendations #HPG, #MSB, #NLG, #PTB
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