Vietnam Insight

In regular trading on Thursday, the S&P 500 and Nasdaq Composite rose 0.09% and 0.3%, respectively, extending gains for a third day. The Dow also edged up 0.09% for its second winning day. Those moves came as bond yields retreated after fresh data pointed to a continued slowdown in economic activity, bolstering rate cut bets. Initial claims fell for a second week but continuing claims rose to 2021-highs, suggesting a cool down in the labor market. GDP growth however, was revised slightly higher to 1.4% from 1.3%.

VNINDEX closed at 1,259 points (-2.15 points, -0.17%), liquidity low. The market had 175 green stocks and 214 red stocks. Groups of stocks that contributed to the market's growth included FPT MWG and BVH, while TCB BID and PLX contributed to the market's decline. Most industry groups declined, with the oil and gas group declining the most. Foreign investors sold net around VND 1143 billion.

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