Weekly Report

Skyrocketing trading volumes pushed SSI Securities (SSI, +3.5%) and HCM Securities (HCM, +2.7%) up

Stocks succumbed to strong profit-taking pressure after eight consecutive gaining days

The VNIndex rallied again as Vietnam PMI in March was the highest in the ASEAN, reaching 53.6 points (IHS Markit)

Stock rallies were underpinned by a rise of 22.1% YoY in March IIP, which reflected considerable improvements in manufacturing conditions

Stocks peaked after Fitch Ratings forecast Vietnam's GDP growth rate at 7% in 2021 and 2022 with a positive outlook

The VNIndex surpassed its historical peak after IHS Markit released a report showing that Vietnam's March PMI reached 53.6 points, up sharply from 51.6 points of the previous month

HSBC's review to raise Vietnam 2022 GDP growth from 6.5% to 8.5% encouraged stocks to gain, despite lower 2021 GDP forecast (from 7% to 6.6%) given the third wave of COVID-19

Stock market rallied after the Ho Chi Minh Stock Exchange (HSX) disclosed it was cooperating with FPT to build a temporary trading system for three to four months which should process three to five million orders per day

Stock market rallied after the Ho Chi Minh Stock Exchange (HSX) disclosed it was cooperating with FPT to build a temporary trading system for three to four months which should process three to five million orders per day

The VNIndex took heart from the General Statistics Office data showing 1Q average CPI and GDP rose by 0.29% (20-year lows) and 4.48% YoY respectively