Vietnam Insight

The S&P 500 closed 0.8% higher on Friday, while the Dow surged by 574 points. Investors were assessing the potential timing of Federal Reserve rate cuts, especially after PCE inflation figures aligned with expectations. The US core PCE price index, the Federal Reserve’s preferred gauge to measure inflation, rose by 0.2% from the previous month in April of 2024 after a 0.3% increase in March, the slowest increase so far in 2024, and below market expectations of a 0.3% rise

VNINDEX closed at 1,261.72 points (-4.6 points, -0.36%), with liquidity lower than the average of the last 20 sessions. The market had 198 gaining stocks and 222 losing stocks. Retail and textile stocks were bright spots in the trading session. Stocks that contributed to the market's gain included HPG, MWG, and VIC. On the other hand, stocks that contributed to the market's decline included VCB, BID, and GVR. Foreigners net sold around VND 1.434 billion.

• World stocks: US core PCE price index increases below market expectations
• Vietnamese stocks: Selling pressure from large-cap banks
• Macro news
• Business news: #LPB, #DCM, #ACV, #SAB, #FRT, #HHV
• Technical perspective and updated recommendations 
• Event calendar
• Q&A