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Saturday, June 22, 2024

Which sectors will thrive in 2024?

By Trieu Duong

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As Vietnam’s stock market gears up for a promising year in 2024, underpinned by strengthening macroeconomic fundamentals and expansionary fiscal and monetary policies, investors are eager to know which industry sectors are poised to fare well. Thriving sectors Despite corrections in global stock markets, Vietnam’s domestic market has had a promising start in 2024. While U.S. markets, among others, experienced corrections as expected due to profit-taking pressures, the VN-Index made significant strides in the first five trading days, surging by nearly 2.7% from 1,130 to 1,160 points as of January 8. Investor interest has primarily focused on large-cap stocks, a group expected to deliver stellar 2023 business results and currently undervalued. The VN30-Index, representing this group, edged up by over 2.8%, from 1,131 to over 1,163 points during this period. Notably, these stocks have been the primary driving force behind the VN-Index’s positive performance, defying a downturn in most other stocks. Leading this rise is the banking sector, illustrating investors’ high expectations for it in 2024. Nine out of the top 10 stocks contributing to the VN-Index’s increase from January 2 to January 8 belong to banks. This group includes VCB (contributing nearly 9.2 points), BID (4.4 points), CTG (3.3 […]
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