Vietnam Stocks Hit Record Peak
The VN Index increased by 9 points, or 0.5%, to reach 1,405 during Friday morning's trading session, continuing the upward trend from the previous day and achieving a new record high. This broad index mirrored a positive session on Wall Street the night before, sparked by new labor data that heightened expectations for the Federal Reserve to cut rates this month. The rise was largely propelled by a surge in blue-chip stocks, with nearly all sectors witnessing gains. Market participants are now awaiting the release of the US jobs report, expected later today, which could bolster the argument for a rate cut ahead of the Federal Reserve's meeting on monetary policy scheduled for September 17. Nonetheless, this positive outlook was moderated by caution in anticipation of crucial Vietnamese economic indicators due for release on Saturday, including statistics on consumer prices, trade, and industrial production. Leading the performance charts were Vietnam Pesticide JSC (+6.0%), Kon Tum Sugar JSC (+4.3%), Ninh Binh Phosphate Fertilizer (+3.5%), Ba Ria - Vung Tau Power & Water Supply (+2.7%), and Cuulong Fish JSC (+0.8%).
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