Week 46_VN-Index continues moving sideways below short-term resistance_241108

GLOBAL STOCK MARKETS

US stock market soars with presidential election results
Former President Donald Trump's election, FED's interest rate cut is the driving force pushing US stock indexes to new heights. Commodity, currency, and digital currency markets also fluctuated strongly with election news. DXY index, digital currency increased while gold price turned to decrease.
- US stock market increased by an average of 4.3%, EU600 -0.7%, Nikkei 225 +2.9%; Chinese market increased strongly again by 5.6%.
- Commodity index increased by 2.4%; from oil price +3.6%, metals such as Nickel +5.6%, Aluminum +4%, Steel +2.4% while precious metals decreased (Gold -1.4%, Silver -2.1%).
- DXY index +0.2% and US TP 10y decreased slightly -0.06% this week.
The Fed cut interest rates by another 0.25%, to a range of 4.5%-4.75% at its November policy meeting. The decision to cut interest rates this time was highly unanimous. The agency emphasized that the economy continues to expand at a solid pace, and assessed the risks of achieving inflation and employment targets at a balanced level. In addition, the FED will continue to reduce its balance sheet. According to CME Group's Fedwatch tool, the market predicts that the FED may cut another 0.25% in December and then stop for 1 month to re-evaluate the policy.
CPI, Jobless Claims, US Retail Sales, Australian Unemployment Rate, China Industrial Production and Retail Sales Index, UK and EU GDP are the information to watch next week

VIETNAM STOCK MARKET

VN-Index continues to trade sideways below short-term resistance
Similar to last week, VN-Index sideways below the SMA 100 moving average. The index decreased slightly by 0.2% with liquidity decreasing by 20% compared to last week. The market fluctuated according to international information, but weak liquidity made the recovery momentum unclear.
- Cash flow still shifted slightly to mid- and small-cap stocks in the context of the market not having a large-cap group leading the market and foreign investors increasing net selling.
- 10/18 sectors increased, mainly focusing on mid-cap stocks such as Auto parts, communications increased by over 2% while oil and gas, retail, banking decreased by over 1%.
- Foreign investors maintained a high net selling volume of 136 million USD compared to the net selling of 301 million USD last week.
Industrial production index in October and 10 months increased by 7% and 8.3% respectively yoy. Total retail sales of goods and services increased by 7.1% and 8.5%. Investment capital from the budget in 10 months was equal to 64.3% of the plan, up 1.8% yoy. Registered and implemented FDI increased by 1.9% and 8.8% yoy respectively. Export turnover increased by 10.1% and 14.9% yoy respectively; trade surplus in 10 months was 23.3 billion USD compared to the same period with a trade surplus of 24.8 billion USD. CPI in October increased by 0.3% mom, average CPI in 10 months increased by 3.78%, core inflation increased by 2.69%. Tourists in 10 months increased by 41.3% yoy. Growth drivers in October maintained their growth momentum and macroeconomic stability ensured good growth support in the fourth quarter and the whole year of 2024.
The market recovered from the support zone along with the upward trend of the world market. The accumulation trend is not yet stable with low liquidity. Investors need to maintain a reasonable investment ratio and wait for fluctuations to accumulate stocks with good prospects for the 2025 vision.