Vietnam Insight

Stable developments from global markets. In regular trading, the Dow and S&P 500 dipped 0.16% and 0.21%, respectively, while the Nasdaq Composite plunged 0.89%. However, eight of the eleven S&P sectors closed in the green, with utilities, real estate, and industrials driving gains.  In bond markets, the 10-year US Treasury yield continued its retreat, as Federal Reserve Governor Christopher Waller suggested the possibility of rate cuts if inflation trends remain favorable.

Foreign investors recorded net selling of over VND 2,000 billion in VIC. VNINDEX closed at 1,242.36 (+6.18 points, +0.50%) with liquidity around the 20-session average. Foreign investors net sold VND3,099 billion, with VND2,000 billion coming from VIC. Small fluctuations and low liquidity in recent sessions show that investors are still maintaining a wait-and-see attitude in the period before Tet.

Trading Strategy: The market is showing positive signs as it approaches the 1,200-1,220 point level. For short-term trading, investors can consider disbursing around this area and gradually taking profits when approaching 1,300 points. With a holding investment strategy, investors will only disburse strongly when the VN-Index breaks out and successfully defends the 1,300 point level.