Morning call - The market suddenly reversed with great liquidity
On Tuesday, the Dow gained 0.2%, while the S&P 500 and Nasdaq Composite dropped 0.27% and 0.43%, respectively. Those moves came as investors reacted to mixed corporate earnings results, though about 82% of S&P 500 companies that have reported earnings so far posted positive surprise, according to FactSet. US stock fell on Wednesday after Fitch downgraded the US’s credit rating from AAA to AA+, citing “the expected fiscal deterioration over the next three years, a high and growing general government debt burden, and the erosion of governance" relative to peers.
VNINDEX closed 1,217, down 5.34 points (-0.44%) with liquidity reaching the highest level in 3 weeks with trading value of VND 26,404 billion. The uptrend showed signs of slowing down when the index sometimes gained more than 10 points during the session but then closed down at the lowest price of the day. The market also appeared a Marubozu candlestick pattern, showing a strong increase of sell side.
World stocks: World markets ease slightly ahead of business results update
Vietnam stocks: The market suddenly reversed with great liquidity