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20241113_October Macro report

20241011_Market report September 2024

20241011_Macro report September 2024

Market Update Report August 2024

The VN-Index rebounded after a correction in July, ending in August at 1,284 (+4.6% MoM) thanks to positive contributions from the Vingroup and Banking sectors. However, market liquidity slightly declined in August, averaging VND 16,571 billion per session (-2.4% MoM). We believe that trading value was negatively impacted as investors maintained a cautious sentiment following the sharp drop of the VN-Index below 1,200. In August 2024, market capital mainly flowed into the VN-Index, particularly into the VN30 group. In terms of sectors, Real Estate, Financial Services, and Banking stocks were the key drivers of the VN-Index recovery. Foreign investors reduced net selling, partly supported by the cooling down of the USD/VND exchange rate. In September 2024, TVS Research believes the recovery phase of the VN-Index has concluded, and the market may undergo a correction as capital inflows are diminishing, coupled with negative impacts from global macroeconomic conditions.