Strength in Construction Stocks and Vietnam Stock Market at Record Highs
The U.S. construction stock market is showcasing strong gains, experiencing a fresh uptrend. This comes amid declining 10-year treasury yields and increasing expectations for a rate cut, which are boosting investor sentiment across the construction sector. PulteGroup, Lennar, and DR Horton, key construction stocks, are on the rise, while the leveraged ETF 'Direxion Daily Homebuilders & Supplies 3X Bull Shares' surged by 39.42% over the past month. The concurrent decline in U.S. bond yields and mortgage rates also supports this trend.
Meanwhile, the Vietnamese stock market has also reached historical highs, buoyed by an economic growth rate in the 8% range annually. The 'ACE Vietnam VN30 (Synthetic)' ETF, which tracks the VN30 index, has risen by 20.82% this year and spiked by 11.89% in the past month. High GDP growth rates, increased exports, and reduced loan rates from the central bank positively influenced the market's upward trend. The potential inclusion in the FTSE Emerging Markets also raises expectations for additional capital influx.
Domestically, the first ETF that follows foreign investors' buying strategies has been launched. The 'WON K-Global Top Supply' ETF by Woori Asset Management selects stocks with consistent foreign purchasing trends, aiming for flexible response through monthly rebalancing. Major investment stocks include Doosan and Hanwha Engine, similar in strategy to ETFs that follow portfolios of Korean investors abroad or Berkshire Hathaway.
Turning to employment, while total employment numbers have increased, youth employment has dropped significantly, reaching unprecedented levels of individuals who are 'resting.' In the financial sector, IPO activities led by K-bank are expected to bolster hiring, whereas, in AI and biotech fields, investment surges are significantly raising the demand for research and development talent.
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