Vietnam Insight

U.S. stocks rose on Wednesday as traders reacted to recent data and U.S. stocks will not trade on Thanksgiving Day, the 5th of this week. 

The average rate on a 30-year fixed mortgage was 7.29% as of November 22, dropping for the fourth consecutive week and 50bps below the 23-year high from the end of October. The outcome mirrored the notable decline in long-term Treasury bond yields since late October, reflecting expectations of an end to the U.S. Federal Reserve’s rate hike cycle.

VNINDEX closed at 1,088.4 (-25.3 points, -2.27%) with increased liquidity and higher than the 30-day average. The market had 109 green stocks and 397 red stocks. The big cap stocks that contributed the most to the market's decline included: HPG, VCB, and GAS. No stocks in the VN30 maintained a green color. All sectors fell, with the strongest declines in financial services, resources, and retail services. Only the insurance sector was flat. Foreign investors continued to sell net of over 700 billion dong, and proprietary trading sold net slightly.

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