Global stocks reversed, selling pressure appeared on a large scale. Markets wobbled after the Fed chair's testify when he told the US Congress the Fed is prepared to increase the pace of rate hikes, if the totality of the data were to indicate that faster tightening is warranted. Powell also noted that the latest economic data have come in stronger than expected, which suggests that the ultimate level of interest rates is likely to be higher than previously anticipated. Besides, investors were also worried after the news of the collapse of Silicon Valley Bank (SVB). The wave of sell-off spread in banking stocks.
Vietnam's stock market stands firm against the storm. Perhaps the the previous losing streak has partly reflected the instability in the market and the index is looking for balance. Steel group was a bright spot in this week's trade, next to Aviation and Tourism stocks when the news that China opened a group tour to Vietnam from March 15 created optimism.
- Capital Flow & Trading activity
- The top market liquidity
- Other Macro data
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