Morning call - The market bucked the trend of foreign selling to post strong gains
07/12/2023

Summary

 In regular trading on Wednesday, the Dow fell 0.19%, the S&P 500 lost 0.39% and the Nasdaq Composite dropped 0.58%. Meanwhile, fresh data showed signs of a cooling US labor market, as the ADP report indicated fewer-than-expected job additions in November and lower-than-anticipated labor costs in Q3. These data reinforced expectations of the Fed concluding its tightening campaign and potential rate cuts in the coming year.

VNINDEX closed at 1,126.43 (10.46 points, 0.94%) with slightly higher liquidity than the previous session's decline. The market had 359 green and 122 red tickers. The top contributors to the market's rise were VCB, BCM, and HPG, while the top contributors to the decline were STG, PDN, and VHM. All sectors rose except for the media sector, with telecommunications rising the most. Foreign and proprietary accounts continued to sell heavily.

  • World stocks: Correction
  • Vietnam stocks: The market bucked the trend of foreign selling to post strong gains
  • Business news:  #DXG, #PDR, #HPG, #VCS, #MSN, #SAB
  • Technical perspective and updated recommendations #DGW
  • Event calendar
  • Q&A
Category
Daily
Author
Hoang Nam
Details

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