Weekly Report

Vietnam’s stock market was driven by banking stocks following positive business results of multiple banks

The VN-Index saw a steep rise in the afternoon session thanks to the bottom-fishing demand for stocks

The Vietnamese and global stock markets fell ahead of prediction from Goldman Sachs that the Fed could raise interest rates four times this year

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