Week 42_Recovering from the support level, VN-Index gradually accumulated more tightly_241014

GLOBAL STOCK MARKETS
The US stock market struggled before the FED chairman's views and the minutes of the September FOMC meeting 
Expectations for the FED's strong move to reduce interest rates have dropped sharply after the FED chairman's statement and the FOMC minutes. US stock indexes moved into a state of struggle. DXY maintained its upward price momentum while the commodity index decreased.
- The US stock market increased on average by 0.7%, EU600 +0.1%, Nikkei 225 +2.3%; After a strong increase after the holiday period, Chinese stock market turned down sharply, CSI index -8.7%.
- Commodity index decreased -0.1%; in which oil +1.7%, coal +5.4% while metals decreased (Silver -3.0%; HRC -3.8%, Zinc -4%) and gas -5.9%. 
- DXY index +0.3% and US TP 10y increased +0.12% during the week.
FOMC minutes show that the Fed disagreed on policy at the September meeting. Some members supported only a 0.25% reduction, in the end one member voted against lowering interest rates by 0.5%, causing the first disagreement since 2005. The Fed then decided to lower the rate by 0.5% to balance the goal of cooling inflation and not harming the labor market. The labor market was then better than expected and is supporting the FED Chairman's view that the Fed could make two more 0.25% cuts.
Industrial production index, unemployment rate, retail sales and China GDP; EU industrial production index; CPI Canada, UK, Interest rates and ECB monetary policy minutes; U.S. unemployment claims and retail sales are the headline news next week.

VIETNAM STOCK MARKET
Recovering from the support level, VN-Index gradually accumulated more tightly
VN-Index increased 1.4% as many large stocks recovered. Liquidity increased for the 4th consecutive week at 12% compared to the previous week.
- The Banking group after a good increase is dividing, other large stocks including VHM, FPT, MSN, HPG act as replacements to support the index's recovery.
- The market reversed with 15/18 industries gaining points. The Information Technology and Basic Resources sectors replaced the Banking group with an increase of 3% - 5.6%; Auto parts and retail sales continued to decrease by 1% - 2%.
- Foreign investors net sold 12 million USD compared to net buying of 9.6 million USD last week. Overall, since the beginning of the month, foreign investors have balanced transactions, with a net purchase of 6 million USD.
After buying to increase the proportion last week as recommended, investors can maintain a temporary status and wait for trend-creating fluctuations to expand trading activities when the third quarter earnings announcement season is approaching.
The National Standing Committee gives opinions on the socio-economy in 2024 and the 2025 plan. The socio-economic targets reached and exceeded 14/15 major targets, of which GDP growth reached 6.87%; CPI, exchange rates, foreign exchange controlled and in line with the world; FDI and budget revenue increased well. However, the macroeconomic stability assessment report still has potential risks of inflation and exchange rates. Credit growth is not high, pressure to repay corporate bonds, domestic purchasing power slows down, trade surplus depends on FDI sector. After Vietnam announced third quarter GDP growth, the WB and UOB both adjusted Vietnam's GDP growth to 6.1% and 6.4%, up 0.6% and 0.5% respectively compared to previous forecasts.