Vietnam Insight

Highlights:

• On April 9, U.S. President Donald Trump announced a 90-day suspension of retaliatory tariffs against over 75 trade partner countries that have not retaliated against the U.S., including 27 EU member countries, Vietnam, South Africa, and many others.
• On April 10, President Trump declared that he would not extend the 90-day suspension of tariffs on goods imported from dozens of trade partners, even if these countries have not reached an agreement with Washington.
• U.S. imports into China will be subject to a 125% tariff starting on April 12, in retaliation for the 145% tariff Washington has imposed on Chinese goods.
• Inflation in the U.S. for March was lower than expected.

Technical view: The VN-Index closed the week at 1,222.46 (+11.79 points; +0.97%) with slightly reduced liquidity. The market saw the second session of hitting the floor at the start of the week but recovered in the last two sessions. However, this is still considered a technical rebound after sharp declines in the previous sessions. When calmly reassessing the information, we expect the market to build a new accumulation base in the 1,060 – 1,160 zone in the medium term.

Investment ideas: Investors should avoid rushing to catch the bottom, as the index could continue to fall. It is necessary to wait for the market to build a price base for at least 2-3 sessions. For stocks violating the cut-loss threshold for short-term trading, investors should sell to protect their accounts.