Vietnam Insight

Last week, the major indexes pulled back from their all-time highs, as the post-election rally lost momentum. The Dow dropped 1.24%, the S&P 500 fell 2.08%, and the Nasdaq Composite slid 3.15%. These declines came after Federal Reserve Chair Jerome Powell signaled that the central bank is in no rush to cut interest rates, citing the economy’s strength, a resilient labor market, and ongoing inflationary pressures. Retail sales in the US increased 0.4% month-over-month in October 2024, following an upwardly revised 0.8% gain in September, and above market forecasts of 0.3%

VNINDEX closed at 1,218.57 (-13.32 points, -1.08%) with liquidity higher than the 20-session average. The market had 75 green codes and 305 red codes. The group of stocks contributing to the market's increase included VTP KBC and VRE while BID FPT and VNM contributed to the market's decrease. All major industry groups ended the session under strong selling pressure. Foreign investors net sold more than VND1,329 billion, mainly concentrated in VHM and FPT.

• World stocks: US retail sales came in above forecasts
• Vietnamese stocks: The bears have the upper hand
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• Business news: #TCB, #CTR, #FPT, #NVL, #PHR, #VSI
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