Vietnam Insight

Highlights:

• On June 11, a tariff agreement was announced. The U.S. will impose a 55% tariff on Chinese goods, which includes a 10% base rate, 20% fentanyl-related surcharge, and 25% from existing tariffs. Meanwhile, China will apply a 10% tariff on imports from the U.S.
• President Trump stated that the U.S. is open to extending tariff negotiations with other countries.
• In the early hours of June 13, oil and gold prices surged after Israel launched large-scale airstrikes targeting Iran’s nuclear and military facilities.

Technical view: The VN-Index closed the week at 1,315.9 (-14.4 pts; -1.08%) with slightly lower liquidity. The decline was mainly due to profit-taking in major real estate stocks such as VHM and VIC. However, several key tickers like CTG and HPG managed to post gains, limiting the market’s downside. The VN-Index is likely to move sideways as capital seeks new opportunities. The medium- to long-term trend remains upward, as the index is still trading above both the 20-day and 200-day moving averages.

Investment ideas: Investors should refrain from initiating new positions in stocks that have already risen sharply, as profit-taking may occur and capital could shift to underperforming stocks trading below the MA200/MA50. For new positions, consider sectors such as real estate, steel, and banking, which are currently at low price bases with established accumulation zones — but keep new allocations conservative.