Market brief 27 May - Sóng yên gió lặng

Stocks Stage Substantial Rally In Morning Trading

Stocks are up by sharp margins in mid-morning trading on Thursday, as easing worries regarding investing in Europe and innocuous U.S. jobs and GDP data have driven buying interest. The major averages are all firmly in positive territory, moving off of the roughly three-month closing lows set in the previous session.

Earlier, China's State Administration of Foreign Exchange quelled rumors that it will be selling its stake in euro-bonds and reiterated that it remains a long term investor in Europe, relieving the markets. Thì ra nhờ "anh" này!

"The European markets in the past, the present and the future are one of the most important investment markets for foreign exchange reserves," SAFE said.

On the economic front in the U.S., the Labor Department reported that first-time claims in the week ended May 22nd fell to 460,000 from the previous week's revised figure of 474,000. Economists had been expecting jobless claims to fall to 455,000 from the 471,000 originally reported for the previous week.

In a separate report, the Commerce Department's second estimate on gross domestic product in the first quarter showed that GDP increased by 3.0 percent, a downward revision from the advance estimate of 3.2 percent growth. The downward revision surprised economists, who had expected GDP growth to be revised up to 3.3 percent.

Commenting on the economic data released this morning, Chris Low, chief economist at FTN Financial, said, "Like yesterday's economic news, the most important takeaway is that this morning's figures are close enough to expectations to allow investors to forget about them and focus on market internals."

http://www.bloomberg.com/apps/news?pid=20601087&sid=aVshzaKEQQKg&pos=1

GDP, Jobless Claims

U.S. stocks rallied even after government data showed the economy grew at a slower pace than previously calculated in the first quarter and jobless claims fell less than economists estimated. The 3 percent increase at an annual rate in U.S. gross domestic product was less than the median estimate of economists surveyed by Bloomberg News and last month’s estimate of 3.2 percent, the Commerce Department said. Initial jobless claims fell 14,000 to 460,000 last week, the Labor Department said. Economists on average forecast a drop to 455,000.

Cái này đáng chú ý nè, mấy bữa nữa thị trường rớt nó sẽ được đem ra làm scapegoat!

Asian Markets End In Positive Territory

The markets across Asia ended in positive territory on Thursday notwithstanding the weak cues from Wall Street, as the euro rebounded from depressed levels. Short covering and selective buying at lower levels on expectation that the concerns in Europe are easing lifted the indices across the region.

On the economic front, a report released by the Ministry of Finance in Japan revealed that the country registered a merchandise trade surplus of 742.262 billion yen in April, topping forecasts for a surplus of 700.5 billion yen, following 948.9 billion yen surplus recorded in March. On an annual basis, trade surplus was up by 1,415.2% over surplus of 48.988 billion yen reported in the same month last year. The report further revealed that exports surged 40.4% on year to 5.889 trillion yen - beating forecasts for a 38.3% annual increase after jumping 43.5% in the previous month. Imports were up 24.2% on year to 5.147 trillion yen, again topping expectations for a 23.3% annual gain after reporting a revised 20.6% surge a month earlier.

Exporters advanced after the local currency Japanese yen weakened against the US dollar and the Euro. Fanuc Ltd surged up 3.28%, Tokyo Electron gained 2.30%, Kyocera Corp. advanced 1.28%, Canon Inc. climbed 2.08%, Sony Corp. rose 2.09%, Panasonic Corp. increased 2.04% and Sharp Corp. was higher by 2.78%.

Positive sentiment in global markets, China's denial that it is considering cutting its holdings of European government bonds, and the perception that the recent sell-off on eurozone debt fears was overdone helped Indian equities end sharply higher on Thursday for a second straight session. The rally was also partly due to short covering on the last day of May series derivative contracts. The 30-share Sensex average closed near the day's high at 16,666, up about 280 points or 1.70% and the 50-share Nifty ended up 86 points or 1.74% above the crucial 5,000 mark.

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Quan trọng, là market pessimism của Mỹ và có lẽ VN chưa hết. Chúng ta test lại các resistance trên, và nếu rớt lại thì cũng bình thường. Tỷ lệ tăng/giảm của các thị trường vẫn cho thấy basically, primary medium down trend vẫn còn đó. Giảm thì gom hàng, đừng quá bi quan nhưng đừng lạc quan quá mức.