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VCSC Daily - Market inches higher despite disappointing Q2 GDP - FDI - VNM

The VN-Index rose slightly for a second day despite the government reporting preliminary GDP figures that showed the economy likely expanded 5.5% in the first half, putting in doubt the government's full-year target of 6.7% growth (see our note below). This would indicate that the market was already expecting the slower GDP growth or that equity prices are not correlated with GDP growth or, more likely, both of the above.