Vietnam Insight

The S&P 500 added 1% and the Nasdaq 100 jumped 1.5% to set up the highest closes on record, while the Dow was up over 100 points. Data from the ISM showed that the US services activity expanded the most in nine months, above expectations, while prices faced by the sector slowed more than expected to prevent the pressure of a hawkish outlook for the Fed. The ISM Services PMI in the US soared to 53.8 in May 2024, the highest in nine months, and well above forecasts of 50.8. 

VNINDEX closed at 1,283.52 (+3.52 points, +0.28%), liquidity in line with the average of the past 20 sessions. The market had 202 green stocks and 224 red stocks. Stock groups contributing to the market's uptrend included FPT, VCB, and SAB, while ACB, VPB, and BCM contributed to the market's downtrend. Foreigners continued to net sell lightly, at around VND 134 billion.

• World stocks: US ISM Services PMI are above market expectation
• Vietnamese stocks: More patience is needed
• Macro news
• Business news: #MWG, #SAB, #FOX, #HSG, #AGG, #KSB
• Technical perspective and updated recommendations 
• Event calendar
• Q&A