Vietnam Insight

The public dispute escalates between former President Trump and CEO Elon Musk. In Thursday’s regular trading session, the Dow slipped 0.25%, the S&P 500 declined 0.53%, and the Nasdaq Composite dropped 0.83%. Losses were led by Tesla, which plunged 14.3% amid an escalating public dispute between Trump and CEO Elon Musk. The president criticized Musk for opposing a major tax-and-spending package, hinting that government contracts and subsidies for Musk’s companies could be at risk. Earlier optimism sparked by a phone call between Trump and Chinese President Xi Jinping also faded, as no substantive progress was reported despite both sides signaling a willingness to continue trade negotiations. Recent data, including weekly jobless claims and private-sector employment figures, signaled signs of labor market softening—fueling concerns that President Donald Trump’s tariffs may be starting to strain economic growth.

Resistance around the recent peak. VNINDEX closed at 1,342.09 (-3.65 points, -0.27%) with liquidity falling sharply below average. The market had 143 gainers and 168 losers, with industry groups diverging during the session. The stocks that contributed the most to the market's growth were MSN, REE, VGC while VCB, GAS, TCB contributed to the market's decline. Foreign investors net sold 474 billion, the value mainly concentrated in STB and VHM stocks.

Trading Strategy: Investors are temporarily holding off on buying stocks that have already seen strong gains, as capital may shift toward stocks trading below their 200-day or 50-day moving averages. For new buying positions, priority can be given to real estate and banking stocks that are trading at low levels with a consolidation base; however, the allocation should remain modest.