Week 51_Results of changes to the index portfolio of FTSE Vietnam Index and MarketVector Vietnam Local Index Q4/2024_241216

GLOBAL STOCK MARKETS
Nasdaq composite falls after surpassing 20,000 for the first time
Top tech stocks like Nvidia, Tesla continue to push Nasdaq above 20k points, but the index retreated in the session on 12/12. The CPI index for November matched the forecast, accordingly, the index increased 0.3% mom in November and increased 2.7% yoy, although PPI increased 0.4%, higher than the forecast of 0.2%. The Fedwatch tool shows a 95% probability that the FED will cut interest rates by 0.25% at the December meeting with inflation expectations not high enough for the FED to stop cutting interest rates.
- US stock indexes decreased by an average of -0.5%, EU600 -0.3%, Nikkei 225 +1.3%; CSI 300 -1.0%.
Commodity index increased by 2.5%, with the main increase in prices of oil +4.4%, natural gas +12.3%, gold +1.9%.
- DXY index +0.13%, along with US 10y increased by +0.16% in the week.
The European Central Bank (ECB) cut interest rates for the third consecutive time by 0.25% to 3% at its December policy meeting. The ECB is focusing on boosting growth instead of controlling inflation around the 2% target due to concerns about political instability and trade pressure from President-elect Donald Trump. The ECB will rely on the latest economic data to decide at each meeting. Investors expect the organization to cut another 0.25% at the January 2025 meeting and forecast interest rates at 1.75% in the summer of 2015, 2% lower than the FED.
China industrial production index, retail sales, unemployment rate; UK, EU, US PMI; Canada, UK CPI; FED, BOJ and BOE policy meetings; BPOC 1y and 5y interest rates; US final jobless claims and GDP are the information to watch next week.

VIETNAM STOCK MARKET
Cash flow weakens at high prices, VN-Index has 4 consecutive sessions of decline
VN-Index decreased 0.6% after 2 weeks of increase with liquidity decreasing 12% compared to last week. Stock market US stocks adjusted, foreign investors returned to net selling and cash flow weakened, making the uptrend unable to be maintained.
- After being excited by the positive assessment information of FTSE last week, large stocks weakened, leading to weak and prolonged cash flow in small and medium-sized stocks.
- The market was strongly differentiated with 9/19 sectors decreasing.
- Foreign investors net sold 46 million USD compared to net selling of 7 million USD last week.
At the regular Government meeting in December 2024, the Prime Minister requested to strive for GDP growth of over 7% in 2014 and 8% in 2025 to create momentum for the 2026-2030 period of double-digit growth. Government The government focuses on streamlining the apparatus towards reducing at least 15% of internal connections, implementing policies to "untie" production activities, with the highest priority being to promote growth, improve labor productivity and enhance national status. The drastic moves from the entire political system bring expectations of a second innovation towards liberating and mobilizing resources to focus on socio-economic development.
VN-Index is in a sideways up accumulation trend, trading activities with thin profit margins continue to be recommended until the new trend is confirmed.