Vietnam Insight

Global stocks recovered during the Lunar New Year holiday week. The Dow added 200 points, while the S&P 500 and Nasdaq 100 were up 1.1% and 1.7%, respectively, after US fourth-quarter gross domestic product growth beat estimates while corporate earnings turned mixed. European stocks also trade in the green with the upside dominating. The S&P Global Eurozone Composite PMI rose to 50.2 in January 2023, up from 49.3 in the previous month.

Domestic stocks extend their rally even though profit-taking pressure starts to appear. After the National Assembly dismissed President Nguyen Xuan Phuc, Ms. Vo Thi Anh Xuan was assigned by the Politburo to hold the role of State President.

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