The VN-Index (VNI) reached its highest level in more than 10 months. In July, the VNI advanced by 9.2% to 1,222.9 — its highest level since September 18, 2022. The strong performance of VNI was driven by a lower interest rate environment in the domestic market, robust public investment (which surged 43.2% YoY in 7M 2023), and positive sentiment surrounding the global stock market following lower-than-expected US inflation in June. On the last trading day of the month, the VNI increased by 1.3%, marking its largest daily gain in 12 weeks and led by a strong performance from VIC following VinFast’s groundbreaking ceremony for its EV factory in the US and its US listing plan. 

At end-July, the VNI had increased 21.4% YTD, outperforming other regional markets such as Thailand’s SET (-6.7%) Indonesia’s JCI (+1.2%) and the Philippines’ PCOMP (+0.4%).

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