Vietnam Insight

World stocks diverged. US CPI data showed that inflation continued to cool while the minutes of the FMOC meeting showed that the Fed raised interest rates further is appropriate. The Dow Jones closed 0.1% lower on Wednesday, while the S&P 500 and Nasdaq 100 slid by 0.4% and 0.8%, respectively. Even though the recent crisis in the banking sector sparked speculation that the Fed might pause its rate-hike cycle, policymakers stressed the need to continue tightening monetary policy to tame inflation.

Domestic stocks traded in balance around the 10-day MA. In the first quarter of 2023, it is estimated that public investment disbursement is about VND 73,192 billion, reaching 9.69% of the plan and reaching 10.35% of the plan assigned by the Prime Minister (lower than the same period). Recently, Chinese steel manufacturers have continuously lowered prices of hot rolled coil (HRC) in the Vietnamese market, creating pressure.

• Domestic and international news
• Bank of Canada keeps interest rate target unchanged
• Technical view and recommendations #NLG