Macro/ Strategy

- Global stock market was in a high volatility as Bank of Japan (BOJ) hiked the rate for another 15 basis points. However, new data from inflation and labor market give hope for FED first rate cut, helping the major indices to rebound

- VN-Index was follow global stock market movement. Expectation from FED pivot to easing will fuel Vietnamese stock market recovery in Sept.

- We expect that with businesses benefiting from increased new orders and reduced input costs, the revenue and profits of some export businesses such as textiles, seafood, furniture exports, etc. may improve significantly in the second half of 2024. We believe that Vietnam's textile industry will enjoy the advantage of the rebound in demand and geopolitical tensions.