Vietnam Insight

Mr. Trump announced a sweeping set of tariffs, Vietnam faces sky-high duties. Futures tied to the Dow and S&P 500 slid over 2% and 3%, respectively, while Nasdaq 100 futures plummeted more than 4%. Companies with global supply chains and heavy reliance on imports were hit the hardest, with Apple sinking 7.5%, Nike dropping 7%, Five Below plunging 14%, Dollar Tree falling 11%, and Gap shedding 8.5%. Mega-cap tech stocks also faced sharp sell-offs, with Tesla sliding 7.2%, Nvidia dropping 5.2%, and Amazon declining 5.8%. In a major escalation, Trump imposed an additional 34% tariff on Chinese goods, bringing total levies on China to 54%. The EU now faces a 20% duty, while key Asian exporters such as Vietnam and Cambodia were hit with steep tariffs of 46% and 49%, respectively. 

Differentiation. VNINDEX closed at 1,317.83 points (+0.5 points, +0.04%) with trading volume below the average. The market saw 245 gainers and 200 losers. The stocks contributing most to the market's gains were VIC, VCB, and FPT, while BID, MBB, and SSB contributed to the market's decline. The securities, telecommunications, and basic resources sectors contributed to the gains. Foreign investors were net sellers of VND 708 billion, primarily focusing on TPB and VNM.

Trading Strategy: The market has shown positive signals, breaking out of the sideways trading channel. The VN-Index is likely to maintain its uptrend to reach 1,350 points. After several consecutive rising sessions, the VN-Index may experience alternating declining sessions in the coming weeks. Investors can increase their positions during these declining sessions with average liquidity and a narrow spread. In a negative scenario, if the 1,280-1,300 point level is lost, investors may reduce their portfolio weight to manage risk.