Vietnam Insight

Highlights:

• Russia has hinted at formalizing a revised nuclear doctrine in response to the US supplying Ukraine with long-range missiles. This move has heightened global tensions and increased uncertainty.
• Oil prices have surged nearly 2% due to escalating tensions between Russia and Ukraine, raising concerns about potential supply disruptions. Gold prices have also climbed for four consecutive days to a one-week high.

Technical view: The VN-Index closed the week at 1,228.1 points, with low trading volume. This marks the third technical rebound from the 1,200-point level since mid-April. Foreign investors net sold approximately 5,000 billion VND last week. The short-term trend is attempting to recover at the 1,200-point support level, with resistance at 1,250.

Investment ideas: Investors who have already buy stocks during the recovery sessions this week of the VN-Index should consider pausing new purchases. The unpredictable nature of geopolitical risks could potentially drive the VN-Index to form a second, lower bottom around 1,170 points in a worst-case scenario. It is recommended to prioritize holding stocks with solid foundations at lower weightings.