Weekly Report

The VN-Index’s rally today was boosted by banking stocks

Vietnam's stock market advanced, similar to Asian stock markets after the People's Bank of China (PBOC) lowered its one-year loan prime rate (LPR) by 10bps to 3.7% from 3.8% in support of the economy

Local stock market rallied thanks to the bottom-fishing demand of stocks

The VN-Index dropped in line with global stock markets’ movements as the World Bank released a forecast that the global economy would decelerate markedly from 5.5% in 2021 to 4.1% in 2022 and 3.2% in 2023

The stock market collapsed following the World Bank’s forecast that Vietnam’s GDP growth would bounce back at 5.5% in 2022, and the economy would only rebound to the pre-pandemic levels in 2023, assuming the full recovery of services and no new shocks

Vietnamese and world stock markets decreased after Fed officials made public comments on the need for tightening monetary policy to combat inflation as well as raising interest rates this March

The VN-Index witnessed a correction similar to the movements of the Asian stock markets after Goldman Sachs lowered its 2022F GDP growth of some Asian countries affected by the Omicron variant

Local stock market regained ground thanks to banking stocks’ outperforming as the State Bank revealed that credit balance of the whole sector may improve 5.3% in 1Q22, deposits should expand 2.6% in 1Q22 and 12.1% for 2022

The VNIndex followed the decline of the world stock markets since investors were concerned about the central banks’ tightening policy

Local stock market went down given investors' concerns around the rise of US Treasury yields prior to US inflation data released this Wednesday