Vietnam Insight

Global stocks struggled, BOC kept interest rate target. The Dow Jones closed 58 points lower on Wednesday, while the S&P 500 and Nasdaq 100 edged up 0.1% and 0.4%, respectively, after Powell’s remarks in the past two days and hot employment data that reinforced the view of a higher-for-longer outlook for interest rates. The latest ADP and JOLTs Job figures report showed a still-tight US labor market, underpinning convictions that the Federal Reserve's monetary policy tightening may be far from over.

Domestic stocks rebounded with improved order matching but close to resistance. Accumulated in the first 2 months of 2023, the electricity output of the whole system reached 38.61 billion kWh, down 2.2% over the same period in 2022.

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