Vietnam Insight

Highlights:

• Fed keeps rates unchanged, warns of high inflation, rules out June rate hike. 
• Vietnam's manufacturing PMI rebounds above 50 in April.
• Q1/2024 profits of 441 companies (representing 28% of market cap across 3 exchanges) up +19.7% YoY (Fiintrade).

Technical view: On the weekly chart, the market continued its recovery and closed at 1,221 (+11.5 points, +0.95%) with low liquidity partly due to the 30/04 and 01/05 holidays. VNINDEX is expected to trade within the range of 1,170 – 1,230, corresponding to the 200-day EMA and 50-day EMA, respectively.

Investment Ideas: Investors should participate in the market with a lower weighting than the previous uptrend phase and quickly take profits with moderate upside.

• Movement of cash flows and capital flows
• Top stocks worth noting
• Macro data