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Wednesday, June 19, 2024

Interest rate headwinds

By Trieu Duong

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The stock market has come under pressure from rising interest rates and concerns over a return to high inflation. How do interest rates affect the stock market, and what should investors watch for in June? Rising interest rates cause concerns On May 24, the stock market declined sharply as liquidity surged. The VN-Index of the Hochiminh Stock Exchange briefly plunged by 31 points during the session and lost over 19 points at the close. The trading volume on the HOSE soared 42% from the previous session to 1.18 billion shares, the highest liquidity since April 16. Similarly, the index on May 22 fell by 10 points, or 0.8%, with more than 987 million shares traded. The recent drastic market declines, coupled with higher liquidity, indicated that cash flows are now more active as the market has recovered over the past month, with the VN-Index rising nearly 9%. On the technical analysis chart, the VN-Index risks forming a double top pattern if it fails to overcome the short-term resistance area of 1,280-1,290 points, increasing investor caution. With interest rates under pressure again, investors have reason to exercise caution. During the falls on May 22 and 24, the market was significantly impacted […]
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