Stock Market

As of early August, the majority of publicly traded businesses have unveiled their second-quarter financial results for 2024. The market witnessed a significant divergence, with numerous companies reporting unprecedented profits, while a substantial number also incurred substantial losses.

"The second-quarter earnings season is over, but it provides a valuable reference point for predicting the trajectory of corporate profit recovery in the latter part of the year. As such, this is the time to think long-term," said Mr. Bui Van Huy.

A weekend rally that pushed the stock market higher does not conclusively indicate that a bottom has been reached, but it is a sign that buying pressure is building.

"In a recent filing with the United States Securities and Exchange Commission (SEC), billionaire Warren Buffett's Berkshire Hathaway company disclosed a significant reduction in its investment position in Apple..."

"Despite a decrease in inventory levels from the peak at the end of the first quarter, the current levels are still relatively high. This could create significant pressure on steel businesses if steel prices continue to move in an unfavorable direction in the coming months."

The stock market plunged once again as trading commenced for the week, with the VN-Index dipping perilously close to the 1,210-point mark.

Liquidity on the two listed exchanges this morning fell 10% from the previous session, while declining stocks overwhelmed the gainers. The VN-Index is closing near the session's low, evaporating 234.38 points or -1.97%, and for the second time in two sessions, it is retreating to near the 1,200-point level.

The VFS Securities Joint Stock Company experts believe that the VN-Index is currently undergoing a corrective phase from the 1,300 peak. However, the overarching trend remains bullish, indicating a solid medium- and long-term upward trajectory.

Many investors and experts believe that the domestic stock market has ended its downward spiral, which began in early July 2024 and persisted until recently.

The VN-Index and HNX-Index both witnessed declines, along with a significant drop in trading volume during the morning session, indicating a cautious sentiment among investors.