Vietnam Insight

Highlights:

• According to the Bureau of Labor Statistics of the U.S. Department of Labor, the Consumer Price Index (CPI) for May 2024 was flat compared to April 2024, but still increased 3.3% compared to the same period in 2023.
• Fed officials expect to lower the federal funds rate by 0.25 percentage points to 5.00%-5.25% by the end of this year.
• Ocean freight rates have skyrocketed, with daily fluctuations causing difficulties for import-export businesses. The freight rate for a 40-foot container was $2,900 in March and has risen to $7,300 in June, more than doubling due to a shortage of empty containers and other reasons.

Technical view: The VNINDEX had an emotional trading week, conquering the highest level in 2 years at 1,300, but closing down more than 20 points on Friday at 1,279.9 - losing all efforts to hold the 1,280 level before that. The overall trend is still bullish but with a short-term adjustment. The market is currently in the 1,280 support zone corresponding to EMA 20. The further support zone is the 1,250 - 1,260 zone corresponding to EMA 50.

Investment Ideas: Investors can disburse large-cap stocks with good fundamentals when prices adjust to support zones and bounce back. Do not disburse strongly at breakout points or chase rallies because the risk of unpredictable market fluctuations is very high. Prioritize sectors such as steel, banking, securities, real estate, etc.

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