Vietnam Insight

In regular trading on Wednesday, the Dow lost 0.22%, the S&P 500 fell 0.94% and the Nasdaq Composite tumbled 1.53% after the Federal Reserve kept interest rates unchanged as largely expected, but signaled another rate increase before the end of the year. Accordingly, FOMC members expect the US GDP to grow by 2.1% this year and 1.5% next year, compared to June's respective 1% and 1.1%, while the unemployment rate for 2024 was revised lower to 4.1% in 2024 and 2025.

The VNINDEX closed at 1,226.1, up by 1.21%, with trading volume still at a low level. The strongest contributors to the day's gains were VIC, VHN, and GVR, while GAS and VNM contributed to the market's decline. Almost all industry sectors saw gains, with the real estate and financial services sectors performing the best. Foreign investors continued to sell off slightly, while domestic investors made mild net purchases.

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