Recommendations

▶ The market fluctuated slightly in the trading session with relatively balanced number of stocks which increased and decreased. Foreign investors went on with a net selling session. Liquidity improved compared to yesterday but remained at a low level. ▶ At the end of the trading session, the VN-Index decreased by 1.38 points (-0.11%), reaching 1,249.83 points; the HNX-Index decreased by 0.04 points (-0.02%), closing at 225.29 points. Market liquidity reached VND 15.64 trillion, which is equivalent to about 673.4 million shares being traded. Foreign investors net sold VND 226.36 billion, mainly concentrated in VCB, MSN and MWG. ▶ Technical perspective: VNINDEX closed at 1,249.21 (-1.38 points, -0.11%) with liquidity below average. The market had 153 green stocks and 222 red ones. Leading industry groups such as finance, consumer goods, and basic materials decreased slightly. VN-Index hardly had any significant fluctuations during the session, as both buyers and sellers were still relatively hesitant in their trading activities. We believe that in the short term, moving in the range of 1,200-1,270 points will be the main trend of VN-Index. If in the coming sessions, selling pressure appears around the 1,250 point area and VN-Index has a big decline when reaching the resistance zone of 1,250-1,260 points, the market is likely to retest the support zone of 1,200-1,210 points. In a more positive scenario if VN-Index successfully protects the 1,250 point area and increases with a wide amplitude and large trading volume, the short-term uptrend is confirmed, helping the index to retest the 1,300 point area. Strategy: Investors should temporarily refrain from buying highly sensitive new stocks, prioritize observation and be ready to sell if the stock touches the price zone in the proposed scenario. Because the market is trading within the range, investors should prioritize disbursing once and closing their positions early, avoiding buying the many times when the price increases.

Global stocks stabilize – US Manufacturing PMI data improves significantly. US stock futures remained steady on Tuesday after the S&P 500 and Nasdaq Composite reached new record highs to kick off December, gaining 0.24% and 0.97%, respectively. In contrast, the Dow Jones dropped 0.29%. Investors are now focusing on key US labor market data, including Friday’s November nonfarm payrolls report. Additionally, traders will closely monitor speeches from several Federal Reserve officials this week. The ISM Manufacturing PMI for the US increased to 48.4 in November 2024 from 46.5 in October, beating forecasts of 47.5.   Resistance appears - Foreign investors continue net buying, focusing on FPT shares. VNINDEX closed at 1,251.21 (+0.75 points, +0.06%) with low liquidity. The market had 147 green codes and 221 red codes. The stocks contributing to the markets increase were VCB and LPB while FPT and BID contributed to the markets decline. Most industry groups increased, while the financial and consumer groups decreased. However, foreign investors returned to net selling after a week of net buying with a value of nearly 304 billion VND. Trading strategy: Investors should temporarily refrain from buying new stocks, particularly those with high market volatility.    Buy recommendation for VCS stock Focus: Update on HSGs Q3 financial results    

▶ In the first trading session of the week, the market opened with positive green colors, but failed to maintain the increase in the end and only managed to close around the reference price. Foreign investors returned their net selling position after a series of consecutive net buying days. Liquidity remained at the bottom, showing the cautiousness of money flow. ▶ At the end of the trading session, VN-Index increased by 0.75 points (+0.06%), reaching 1,251.21 points; HNX-Index increased by 0.28 points (+0.3%), reaching 225.32 points. Market liquidity reached VND 11.96 trillion, equivalent to about 497.4 million shares traded. Foreign investors net sold VND 304.30 billion, mainly concentrated in FPT, VRE, CTG. ▶ Technical perspective: Following the momentum of last week, VN-Index opened the session with a gap up of nearly 8 points. Liquidity did not improve as it remained below average. This showed that the buying side lacked institutional group as the leader. Despite the tender buying force, the selling side did not show strong profit-taking moves in this area, resulted in VN-Index slightly fluctuating throughout the trading session. We believe that sideway in the range of 1,200-1,270 points will be the main trend of VN-Index. If in the coming sessions, selling force appears around the 1,250 point area and VN-Index decreases at the resistance zone of 1,250-1,260 points in short-term, the market is likely to return to test the support zone of 1,200-1,210 points. In a more positive scenario, if VN-Index successfully protects the 1,250 point zone and increases dramatically, accompanied with large trading volume, it is likely to retest the 1,300 point zone. Strategy: Investors temporarily should stop buying new stocks with high beta characteristics, prioritize observation and be ready to sell if the stock reachs the price range as mentioned in the above scenario. Since the index is trading in a range, investors should prioritize disbursement at one time and close positions early, avoid buying at multiple times when the price goes up.    

U.S. stocks continue to hit record highs – markets await job data and FED speeches this week. The Dow and S&P 500 also hit new all-time highs on Friday. Looking ahead, investors are focused on upcoming US manufacturing and construction spending data due on Monday, as well as speeches from Federal Reserve Governor Christopher Waller and New York Fed President John Williams. Markets are also anticipating key labor market data later in the week.   Foreign investors increase net buying – foreign investors increase net buying. VNINDEX closed at 1,250.46 (+8.35 points, +0.01%) with liquidity remaining low. The market had 222 green codes and 147 red codes. The group of stocks contributing to the markets increase included FPT and VCB while VHM and VIC contributed to the markets decrease. Most industry groups increased, notably the telecommunications and technology groups. In addition, foreign investors continued to increase their net buying with a value of nearly 330 billion VND.   Trading strategy: Investors should temporarily refrain from buying new stocks, particularly those with high market volatility. It is advisable to observe the market closely and be ready to sell if stocks hit target price levels as per the predetermined scenario.  

Highlights: The Federal Reserves minutes from their November meeting, released on November 26, indicated that officials believe inflation is moderating and the labor market remains strong. This suggests that they could continue to gradually reduce interest rates. However, the minutes didnt provide any clear signals regarding the upcoming December interest rate decision. Foreign investors returned to net buying, purchasing approximately VND 1 trillion worth of Vietnamese stocks last week. Technical view: TThe VN-Index closed the week at 1,250.46 (+22.36 points; +1.82%) with low trading volume. Many sectors experienced a strong recovery, notably technology and insurance, which saw impressive gains of 7.5% and 7%, respectively. Foreign investors returned to net buying during the week, purchasing approximately VND 1 trillion. In terms of trend, the market has maintained a positive momentum since the bottom at 1,200, and the price momentum has significantly improved as the MACD crossed above the signal line.   Investment ideas: Investors should temporarily avoid buying new, highly market-sensitive stocks. Instead, focus on monitoring existing positions and be ready to sell if the stock price reaches the predetermined target. As the market is trading within a range, investors should prioritize one-time investments and early profit-taking, avoiding averaging down multiple times when prices rise.