Vietnam Insight

U.S. stock markets are closed for Christmas. Both the Dow Jones and Nasdaq Composite recorded four consecutive sessions of gains on Tuesday, while the S&P 500 extended its winning streak to three sessions, buoyed by gains in mega-cap and growth stocks. Meanwhile, growth stocks climbed despite elevated US Treasury yields, with the benchmark 10-year note yielding around 4.61%, its highest level since May. 

The market unexpectedly had a booming trading session with improved liquidity. VNINDEX closed at 1,274.04 points (+13.68 points, 1.09%) with significantly improved liquidity compared to the 20-day moving average. Most sectors experienced positive growth, with the basic materials and oil & gas sectors seeing the strongest gains. Foreign investors were net buyers, purchasing a total of 245 billion. A positive point came from the return of net buying by foreign investors, which also provided good support for the market. The banking sector was the main driving force. However, the market structure has not changed as today's session has not yet closed above 1,280

Trading Strategy: Investors are closely monitoring the index's reaction near the resistance levels of 1,280 - 1,300, as this is a zone with high selling pressure. Even if the index manages to surpass this level, a minor correction is entirely possible.