Vietnam Insight

Continued recovery. Last week, the Dow gained 2.48%, the S&P 500 rose 4.59%, and the Nasdaq Composite surged 6.73%, recouping much of the losses triggered by Trump’s announcement of sweeping 'reciprocal' tariffs at the start of the month. First-quarter earnings have generally been solid so far, but companies are starting to lower their forecasts for the second quarter and full year, preparing for potential fallout from escalating global trade tensions. While it remains unclear whether the US and China have formally started trade negotiations, President Donald Trump has recently softened his rhetoric, and Beijing has exempted some US goods from tariffs

The market is re-accumulating. VNINDEX closed at 1,229.23 (+5.88 points, +0.48%) with lower liquidity compared to the 20-session average. The market saw 256 advancing stocks and 220 declining stocks, with the upward momentum supported by real estate, energy, and consumer goods sectors. Foreign investors were net sellers of nearly 590 billion VND, with the majority of the value concentrated in FPT and VIC stocks

Trading Strategy: Long-term investors may consider allocating funds into stocks with strong fundamentals and a solid accumulation base at low weight. We can focus on stocks benefiting from domestic internal factors in sectors such as: Steel, banking, securities, and power.

Buy Recommendation: HDB