Morning call - Pressure for correction is emerging
In regular trading on Thursday the Dow fell 0.67%, snapping a 13-day winning streak, while the S&P 500 and Nasdaq Composite dropped 0.64% and 0.55%, respectively. Latest data showed that the US economy expanded 2.4% in the second quarter, surpassing market expectations for a 1.8% growth, while durable goods orders surged and jobless claims declined to multi-month lows.
The market closed at 1,197.3 (-0.29%) with a significant increase in liquidity, reaching the highest value in a month at 22,695 billion VND. Leading the market were MWG, VNM, and PGV, while VHM and VCB contributed significantly to the market's decline. Proprietary trading has been net buying for two consecutive weeks, and foreign investors returned with a net purchase of 290 billion VND.
World stocks: The global market is declining.
Vietnam stocks: Pressure for correction is emerging