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Saturday, June 22, 2024

Economic outlook favors market

By Linh Trang

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Despite significant amounts being pulled out by foreign investors, the domestic stock market has been on the rise for four consecutive months. Since late October 2023, the VN-Index has picked up by 20%. Further decline in foreign investment Global stock markets, particularly in the United States, continued their upward movements in February, setting new records. This surge is fueled by the steady influx of funds into stock funds, which reached a total disbursement of US$47.5 billion last month, the highest since March 2022, as reported by SSI Securities Corporation. Notably, the U.S., Japan, and emerging markets were the top destinations for these cash flows. Data from the Bank of America Corporation (BofA) also indicates a notable shift in investor sentiment, with optimism regarding global growth reaching its peak since February 2022, alongside expectations of interest rate reductions by the U.S. Federal Reserve (Fed) this year. The proportion of stocks in investment portfolios has hit a two-year high, with U.S. stocks reaching their highest level since November 2021. In contrast, Exchange-Traded Funds (ETFs) in the Vietnamese stock market continued to experience net selling in February 2024, albeit to a lesser extent than the previous two months. The net withdrawal value for […]
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