Last week, the S&P 500 lost 2.53% and fell into correction territory being down 10.63% from its 2023 high. The Nasdaq Composite also tumbled 2.62% last week and was down 12.48% from its year-to-date high, while the Dow dropped 2.14%.Those losses came as stronger-than-expected US economic data, elevated Treasury yields and mixed corporate earnings reports weighed on equities. Meanwhile, the Fed is widely expected to hold interest rates steady on Wednesday, but could reiterate its higher-for-longer outlook on monetary policy. Personal spending in the United States rose by 0.7% from a month earlier in September 2023, following a 0.4% increase in August and beating the market consensus of a 0.5% advance.
VNINDEX closed at 1,060.6 points (+5 points, +0.49%) with liquidity equal to the 20-session average. The market increased with 309 green codes and 165 red codes. Foreign investors continued to be net sellers for the 5th consecutive session with relatively large liquidity, with light self-trading and net buying. The group of sharply falling stocks contributing to the decline of VNINDEX includes VHM, MSN, and BID GAS, which are the two leading stocks in the market. Most industry groups had a slight recovery.
- World stocks: Mixed developments
- Vietnam stocks: The potential for further declines is still there
- Business news: #FLC, #VIC, #PVD, #HPG, #STB, #KLB
- Key highlights: Convertible bonds - Cause of VIC group's sharp decline
- Technical perspective and updated recommendations
- Event calendar
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