According to a report from the PYN Elite Fund, the VN-Index rose 6.2 per cent in August thanks to VCB and BCM and consumer stocks. MBB was the most active growth stock in the month, increasing 11.1 per cent, followed by HDB and NLG with 10.6 per cent and 6.9 per cent, respectively. Conversely, KDC’s stock price fell the most, by 4.1 per cent, followed by SCS, by 1.8 per cent, and KDH by 1.3 per cent.

Apple is planning to manufacture the Apple Watch and MacBook in Vietnam, while Samsung plans to manufacture semiconductor parts in the country and invest an additional $3.3 billion in 2022. According Fund, such investments will boost Vietnam’s manufacturing sector and value chain in the future.

It also said that the resilience in Vietnam’s economy is due to strong domestic consumption. It has estimated that GDP growth in the third quarter will hit 13 per cent, compared to a decline of 6 per cent in the third quarter of last year. The World Bank, Moody’s, and several brokerage firms have revised their GDP forecasts for 2022 upwards, to 7.5-8.5 per cent.

Total revenue from the retail sale of goods and services in August rose 50.2 per cent year-on-year, compared to 12 per cent and 16 per cent, respectively, in August 2020 and August 2019.

Exports increased 22.1 per cent in the month, after falling 1.3 per cent in August last year. Industrial production rose 15.6 per cent, while the Purchasing Managers Index (PMI) was 52.7 points. FDI disbursement was up 10.5 per cent to $12.8 billion in the first eight months of the year.

According to PYN Elite Fund, TP Bank added 1.5 million new customers in the first half of the year; the second highest among banks. It now has more than 6 million customers, 70 per cent of whom are under 40 years of age. Downloads of its mobile app downloads were the sixth-highest in the first half of the year, behind MB Bank and four other State-owned banks.