Daily/Weekly Report

The VN-Index claimed back some losses after three consecutive falling sessions as the IMF downgraded its 2022F GDP growth in April for all Southeast Asian countries except for Vietnam (unchanged at 6%)

Vietnam's stock market fell as investors were cautious ahead of the Fed July meeting about an interest rate hike

Local and Asian stock markets dropped after the Asian Development Bank (ADB) lowered its 2022F GDP growth for developing Asian countries from 5.2% to 4.6% against the backdrop of China’s economic slowdown

Vietnam's stock market fell after ECB raised interest rates by 50bps, the first time in 11 years and exceeding the previous expectation of 25 basis points

The VN-Index inched up as the Asian Development Bank (ADB) expressed Vietnam's economic growth was driven by the expansion of trade, stronger-than-expected recovery in manufacturing, domestic travel, and bold public spending

The local stock market advanced on the news DPM Le Minh Khai urged the Ministry of Finance to research and report a plan on gasoline tax reduction to bring down petrol prices, mitigating inflation pressures

The stock market cheered after Vina Capital, UOB, and HSBC raised Vietnam's 2022 GDP growth forecast to 7.5%, 7%, and 6.9% respectively

Stocks fell from increasing sell-offs at the end of the session

Local stocks followed Asian stock market's downtrend as China 2Q GDP slowed to 0.4% YoY (down 2.6% MoM vs 1% YoY rise in the forecast)

Vietnam's stock market rose in line with Asian stocks after China said its exports rose 17.9% in June, which was more positive than the Reuters' forecast of 12% increase