Vietnam Insight

The S&P 500 dropped 1% after touching a record of over 5,650 and the tech-heavy Nasdaq 100 slumped 2% after reaching 20,650. Both headline and core inflation rates fell more than expected to multi-year lows in June, driving more than 90% of the market to bet on a Fed rate cut in September, compared to less than 75% yesterday. The annual inflation rate in the US fell for a third straight month to 3% in June 2024, the lowest since June 2023, compared to 3.3% in May and below forecasts of 3.1%.

VNINDEX closed at 1,283.80 (-2.14 points, -0.17%), liquidity dropped below the 20-year average. The market has 198 green codes and 242 red codes. The group of stocks that contributed to the market's increase included VIC, HDB and NAB, whereas VCB, TCB and MSN contributed to the market's decrease. Most industry groups decreased slightly in this session. Foreign investors net bought about 5.7 billion VND, focusing on HDB and STB.

• World stocks: US CPI data is lower than expected and lower than last month
• Vietnamese stocks: Foreign investors returned to net buying
• Macro news
• Business news: #HDB, #REE, #VGC, #LBM, #MBS, #TCB
• Technical perspective and updated recommendations #TIP
• Event calendar
• Q&A