Summary
Highlights:
- Vietnam's manufacturing PMI, as reported by S&P Global, reached 52.4 points in August.
- USD Exchange Rate Today (September 6th): As of the early morning of September 6th, 2024, the SBV announced that the central exchange rate of the Vietnamese Dong against the USD decreased by 7 dong, now standing at 24,222 dong.
- US Economy: According to the US Department of Commerce, the world's largest economy grew by 3% in the second quarter of 2024 compared to the same period last year
Technical view: VNINDEX closed the week at 1,273.96 (-9.91 points, -0.77%) after forming a doji candlestick on the weekly chart with extremely narrow fluctuations. The three trading sessions after the September 2nd holiday showed that the market is still in a short-term adjustment trend. The VIC and VHM groups, with their good performance, have supported the market index, while other sectors are mostly trending downwards or sideways. There are two resistance levels to pay attention to: the 1,280 and 1,300 regions; and support at 1,240. Currently, the index is situated in the middle of important support and resistance; therefore, the trading sessions next week will be crucial in determining the market's trend.
Investment ideas: We recommend that investors hold onto strong stocks purchased earlier. For new purchases, it is advisable to wait for a clearer confirmation of the market's trend.
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