Market Recap June 2022 - Stocks drop on gloomy global economic outlook

The VN-Index (VNI) experienced its second steepest drop since March 2020. The VNI recovered to a one-and-a-half month high of 1,308 in the first week of June before declining as global stocks tumbled on news that US inflation hit a 40-year high of 8.6% in May. The VN-Index finished June at 1,198, plunging 7.4% MoM — its second sharpest monthly decline since March 2020. As of end-June, the VNI dropped 20.1% vs end-2021, underperforming neighboring markets such as Indonesia’s JCI (+4.0%), Thailand’s SET (-5.4%) and the Philippines’ PCOMP (-12.9%).

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