Vietnam Insight

Global stocks have recovered in thunderstorms. During the week, the US Federal Reserve (FED) hiked interest rates by 0.25% as many experts expected. FED Chairman Jerome Powell said that the process of taming inflation to the target level of 2% is a long and difficult road, and lowering interest rates in 2023 is not in the Fed's current scenario. In Europe, the acquisition of Credit Suisse by UBS for USD 3.2 billion has not ended the problems in the banking system. Notably, shares of Deutsche Bank fell more than 14% on March 14 when investors worried that the bank would follow in Credit Suisse's footsteps. 

Vietnam stocks had an emotional trading week as they dropped more than 20 points in the first session of the week but gained in the remaining 4 sessions in a row. At the end of the week, VN-Index increased slightly by 0.2% to 1,047 points, and HNX-Index also increased by 0.6% to 206.

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