Vietnam Insight

In regular trading on Thursday, the Dow lost 0.47%, the S&P 500 dropped 0.6% and the Nasdaq Composite tumbled 0.64%. Stocks came under pressure after Federal Reserve Chair Jerome Powell stated in Dallas that there was no rush to lower rates given the economy's strength. His comments led markets to reduce the likelihood of a quarter-point rate cut at the Fed’s December meeting, with odds now around 48%, down sharply from 82.5% the previous day. Investors also absorbed data showing a slight acceleration in US producer prices for October, with the core PPI surpassing expectations, further complicating the outlook for rate cuts. In corporate news, Applied Materials saw a nearly 6% drop in after-hours trading following weak revenue guidance for the current quarter.

VN-Index closed at 1,231.89 points, down 14.15 points (-1.14%) with liquidity around the 20-day average. The market saw 82 gainers and 284 decliners. Stocks contributing to the market's uptrend included BCM, HVN, and HAG, while HPG, CTG, and BID contributed to the decline. Most sectors adjusted downward, except for the port sector which saw a green close. Foreign investors net sold over 956 billion VND, mainly focusing on FPT and VPB.

• World stocks: The probability of the Fed cutting interest rates has sharply decreased to 48%
• Vietnamese stocks: Stack up with difficulty
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• Business news: #CTR, #VHC, #MSH, #TCB, #HBC, #BCM
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