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VCSC Daily - Stocks rise despite Fed rate hike - AAA

The VN-Index crept higher on Thursday despite the US Fed increasing lending rates 0.25 ppts, as expected. The Fed signaled it expects three rate hikes this year, a policy investors interpreted as dovish, which sparked a global equity rally (see our note above). Combined trading value in HCMC and Hanoi jumped to USD212 million, 60% above the trailing one-year average. Brent crude oil prices rose overnight after a six-day sell-off, boosting energy names such as GAS (+1.1%) and PVD (+1.9%).