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Title Week 20_On the settlement cycle and stock market upgrading
Report Type Báo cáo tuần
Source BSC
Bussiness HOSTC
Detail Date : 19/05/2025
Total pages : 0
Language : English
File Type : .PDF
FileSize : 1813 Kb
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Short Content

GLOBAL STOCK MARKETS
Positive tariff developments pushed U.S. equity indices closer to their yearly highs
The S&P 500 extended its winning streak to four consecutive sessions, now trading just 3% below its all-time high, supported by optimism that U.S.–China trade negotiations could help curb short-term economic slowdown and inflation pressures. These expectations also influenced movements in the commodities and currency markets last week.
- U.S. equity indices rose an average of 4.8% over the five sessions ending May 15; EURO STOXX 600 +2.3%, Nikkei 225 +0.9%, CSI 300 +1.1%.
- Commodity index climbed +1.4%, led by energy (oil +1.3%), metals (iron ore +4.2%, tin +4.0%), and agriculturals (cocoa +15.8%, rice +4.1%). In contrast, precious metals declined (gold -3.5%, silver -1.3%).
- The DXY dollar index rose 0.4%, marking a second consecutive week of gains, while the U.S. 10-year Treasury yield edged up to 4.41%.
April’s U.S. CPI rose 0.2% MoM and 2.3% YoY, lower by 0.1 percentage points compared to both the previous month and forecasts. Shelter costs, which rose 0.3%, contributed to half of the CPI increase. Inflation continues to ease, and the risk of reacceleration has narrowed following the cooling of U.S.–China trade tensions on May 12, after two days of negotiations in Switzerland. The U.S. agreed to reduce tariffs on Chinese goods to 30% (from 145%), while China lowered tariffs on U.S. goods to 10% (from 125%) for a period of 90 days. Both parties also established a mechanism to continue addressing trade disputes. This marks the most constructive progress since the U.S. launched its new tariff policy, though non-tariff barriers and Chinese state subsidies remain key hurdles to a long-term agreement.
Key economic data to watch next week includes: China: Industrial production, retail sales, unemployment rate, 1-year & 5-year loan prime rates. Australia: RBA policy minutes and interest rate decision. Canada & UK: Retail sales, CPI. UK, EU, U.S.: PMI data. U.S.: New home sales.

 

VIETNAM STOCK MARKET
Market extends its uptrend, led by banking stocks
The VN-Index rose 2.7% this week, with liquidity up 28% compared to the previous week. Market momentum was driven by strong gains in banking stocks and the return of foreign net buying, helping the index break through the psychological 1,300-point level swiftly. Sector movements became more defined, despite profit-taking pressure in the last two sessions of the week.
- Banking stocks contributed 4 out of the top 5 contributors to the VN-Index, accounting for around 56% of the index's total gain this week. The VIC group saw mixed performance after strong gains in the prior week, with VIC contributing +3.3 index points, while VHM pulled back -4.1 points.
- Market breadth was strong, with 16 out of 18 sectors posting gains. The Travel & Leisure sector outperformed with a gain of over 20%, while Insurance and Healthcare edged down slightly.
- Foreign investors continued to be net buyers, with a net buying value of USD 107 million, up from USD 49 million the previous week. 
Resolution No. 124/NQ-CP outlines 10 key policy priorities to maximize the achievement of Vietnam’s 2025 socio-economic development goals. Key focus areas include: Promoting economic growth while maintaining macroeconomic stability, controlling inflation, and ensuring major economic balances; Accelerating legal and institutional reform, including restructuring the two-tier local government system; Speeding up public investment disbursement; Advancing manufacturing and processing industries, along with supporting industries; Diversifying export markets; Restructuring the economy based on productivity-driven growth, technological innovation, and other strategic goals. Despite complex international developments, the Government remains steadfast in pursuing high growth and structural reform in 2025.
The market is revisiting previous highs thanks to sector rotation among large-cap stocks. However, the short-term trend remains uncertain amid growing profit-taking pressure. Investors are advised to take partial profits during strong rallies and maintain a flexible short-term trading approach.