Weekly Report

Vietnam emulated Asian markets recoveries as investors are longing for a convincing US election result

The VNIndex closed higher today, powered by October positive macro data with PMI reaching 51.8 points and IIP up 5.4% YoY

Stocks rallied on improved manufacturing health, reflected through domestic October PMI of 51.8 points (the second consecutive month above the 50-point threshold) announced by IHS Markit

Stocks posted modest rebounds, comforted by the Prime Minister's assertion that domestic economy has been in a V-shaped recover and may reached 2.5-3% in 2020E

Stocks sank lower, tracking steep losses on the US Coronavirus-hit market ahead of the hotly-contested presidential election on November 3

Strong sell-down pushed Vietnamese stocks down sharply amid concerns about alarming COVID-19 cases worldwide and unpredictable US presidential election

Stocks were led down by the recently announced 3Q bad debt increases in banks like Military Bank (MBB, -2.7%) & Sacombank (STB, -5.7%).

Vietnamese and regional stocks together with the Dow futures sank due to skyrocketing COVID-19 infections in the US and Europe

Stocks ended higher from expectations about recovered 3Q earnings of large caps which led the uptrend in VN30 basket with 19 advancers

Stocks rebounded after Standard Chartered projected Vietnam's 2020E economic growth at 3%