🪷 Vietnam Stock Index Up 10%. $120M+ VC Funding.
Impact Capital Markets #62 looks at HolonIQ's Vietnam stock index, major impact deals, M&A, and upcoming economic releases.
Sveiki 🏰
📉 Today's Global Economic Update: The United States ISM Manufacturing PMI data showed a notable improvement to 50.3 in March 2023 from 47.8 in February. This marks the first expansion in 16 months and surpasses expectations.
💉 Deal of the Day: Selux Diagnostics, a biotech startup, raised $48M to launch its rapid Antibiotic Susceptibility Testing platform.
What's New?
🪷 Vietnam. Vietnam stock index up 10%
💰 Funding. Biotech, medical tech & agri tech
💼 M&A. IXL Learning acquires Dictionary.com & Thesaurus.com
📅 Economics. Inflation, balance of trade, US employment data + more
🪷 Vietnam Index Up 10%
HolonIQ’s Vietnam Index grew 10% over the past year after declining 12% in November 2023. Positive performance in the finance sector drove some of this recovery. Capital markets have benefited from rising liquidity, improving valuations, and government policies conducive to improving governance and macroeconomic conditions. The Vietnam Joint Stock Commercial Bank for Industry & Trade ($7.7B MCap) saw 25% annual growth, and Hoa Phat Group ($7.1B MCap) grew by 36%.
Vietnam’s economy registered 5.7% growth in the first quarter of the year. A strong recovery in demand has spurred growth in the manufacturing and export sector which has positively impacted stocks in the index. Foreign investment is also a driving force for Vietnamese firms, with a 54% YoY increase in FDI in the first ten months of 2023, as investors diversify their supply chains away from China, creating growth opportunities. The outlook for Vietnam’s stocks continues to remain optimistic; however, political uncertainty is a risk factor. The sudden resignation of Vietnam’s president last month underscores a lack of political stability, which could unnerve foreign investors.
💰 Funding
💉 Selux Diagnostics, a Massachusetts-based biotech startup combating superbug infections and antimicrobial resistance, raised $48M from RA Capital Management to launch its rapid Antibiotic Susceptibility Testing (AST) platform.
🔬 ViaLase, a California-based medical technology company, raised a $40M Series C to launch its ViaLase Laser used for the treatment of glaucoma.
🌱 BioConsortia, a California-based agricultural technology company, raised $15M from Otter Capital to develop microbial products that increase crop yields.
💼 M&A
📚 IXL Learning, a California-based learning site, acquired Dictionary.com, an online dictionary platform, and Thesaurus.com.
📅 Economic Calendar
Inflation, Balance of Trade, US Employment Data + More
Tuesday, April 2nd 2024
🇦🇺 Australia RBA Meeting Minutes
🇩🇪 Germany Inflation Data (Preliminary), March
🇺🇸 US JOLTs Job Openings, February
Wednesday, April 3rd 2024
🇪🇦 Euro Area Inflation Data, March
🇺🇸 US ISM Services PMI, March
Friday, April 5th 2024
🇦🇺 Australia Balance of Trade Data, February
🇨🇦 Canada Balance of Trade Data, February
🇨🇦 Canada Employment Data, March
🇺🇸 US Employment Data, March
🇨🇦 Canada Ivey PMI, March
Monday, April 08th 2024
🇩🇪 Germany Balance of Trade Data, February
Tuesday, April 09th 2024
🇦🇺 Australia Westpac Consumer Sentiment Index, April
🇦🇺 Australia NAB Business Confidence Index, March
Wednesday, April 10th 2024
🇯🇵 Japan Consumer Confidence Index, March
🇺🇸 US Core Inflation Data, March
🇺🇸 US Inflation Data, March
🇨🇦 Canada BoC Interest Rate Decision
Thursday, April 11th 2024
🇨🇳 China Inflation Data, March
🇪🇦 Euro Area Deposit Facility Data
🇪🇦 Euro Area ECB Interest Rate Decision
🇺🇸 US Producer Price Index, March
Friday, April 12th 2024
🇬🇧 UK GDP Data, February
🇺🇸 US United States Michigan Consumer Sentiment (Preliminary), April
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