Vietnam Insight

Highlights:

• On August 5th, Japan's Nikkei stock index experienced its sharpest decline in history, plummeting over 12%. The DJIA fell by 2.6%, the Nasdaq Composite lost 3.43%, and the S&P 500 dropped by 3%. Both the DJIA and S&P 500 recorded their largest one-day losses since September 2022.
• According to the latest report from the US Bureau of Labor Statistics released on August 2nd, job growth in July slowed significantly, while the unemployment rate increased.

Technical view: The VNINDEX experienced significant volatility last week, initially declining sharply in line with the global market sell-off on the first trading day, before recovering in subsequent sessions. The VNINDEX closed the week at 1,223 points (-12.96 points; -1.05%) after forming a long-legged doji with a low of 1184.5 points. On the daily chart, the market remains in a downtrend with technical rebounds. Positively, the index has completely erased the nearly 50-point decline from Monday, indicating that the impact of the previous negative news has temporarily faded as market sentiment gradually recovers.

Investment Ideas: We recommend that investors exercise caution during this period but avoid excessive pessimism. A reliable new buying opportunity may emerge when the market recovers above the 200-day EMA, around 1,225 points, after sufficient consolidation. Consider stocks that have formed bottoms before the broader market as potential leaders for the next uptrend.

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