Vietnam Insight

Highlights:

• The European Central Bank has cut interest rates for the first time in five years from 4% to 3.75%.
• In the first five months of 2024, IIP is estimated to increase by 6.8% YoY.
• Credit growth by the end of May 2024 was 2.41% YoY, far from the banking industry's target of 14% this year.
• According to the General Statistics Office, in the first five months of 2024, the total export turnover of goods is estimated to reach 156.77 billion USD, up 15.2% YoY.

Technical view: On the weekly chart, VNINDEX closed at 1,287 (+25.86 points, +2.05%) with liquidity remaining high. Indicators maintained a positive trend as the RSI was above 50 points and the MACD line crossed above the signal line.

Investment Ideas: Investors should focus on the manufacturing and export sectors as these sectors are recovering in line with the general trend of the economy. In addition, investors should also pay attention to the shipping and seaport sectors as shipping rates continue to increase.

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