Vietnam Insight

Moody’s downgrades U.S. credit rating. U.S. stock futures plunged as fiscal concerns deepened following Moody’s downgrade of the U.S.’ long-standing triple-A credit rating to Aa1 on Friday. The rating agency pointed to mounting entitlement spending, rising interest costs, and persistent political gridlock as key threats to debt sustainability. Meanwhile, Treasury Secretary Scott Bessent downplayed the move, labeling Moody’s a “lagging indicator” in a televised interview. The downgrade came on the heels of a strong week on Wall Street, driven by optimism over a temporary tariff reduction deal between the White House and China, which eased trade tensions. Losses were partly limited by data showing a second consecutive monthly increase in U.S. capital inflows in March, offering some reassurance about international investor confidence. Meanwhile, President Trump announced plans to speak with Russian President Vladimir Putin later today to ease tensions over the war in Ukraine.

Approaching key resistance level. VN-Index closed the week at 1,301.3 (+34.09 points; +2.69%) with a strong increase in liquidity. In the last trading session of the week, VN-Index corrected down nearly 12 points. The banking group faced profit-taking pressure after a positive session. Foreign investors net sold nearly 957 billion, the value mainly concentrated in VCB, FPT and VHM stocks.

Trading Strategy: The VN-Index is approaching the resistance zone of 1,300–1,320 points. Investors should maintain a moderate stock exposure to manage risk. The optimal entry points for medium- to long-term holding at low prices have passed, so investors entering the market now should prioritize short-term trading. Capital flow shows signs of rotating across different stock groups, favoring those that have not yet attracted significant capital and have a solid price base.