Vietnam Insight

On Monday, the Dow and S&P 500 rose 0.1% and 0.18%, respectively, for their sixth straight day of gains. The Nasdaq Composite also added 0.3%, extending its winning streak to a seventh day. Those moves came as oversold conditions, upbeat earnings, growing expectations for an end to the Federal Reserve’s rate-hiking campaign and a sharp pullback in Treasury yields all combined to lift the market.

VNINDEX closed at 1,089 (+12.88 points, +1.20%) with a slight decrease in liquidity. The market has broken out of the 1,080 resistance area and is exiting the downtrend. Foreign investors net bought VND 350 billion, focusing on stock codes STB, HPG, HSG.

• World stocks: Slightly increased when US Treasury bond yields fell sharply
• Vietnam stocks: The short-term uptrend is maintained
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