Vietnam Insight

The U.S. has just reached a trade agreement with Vietnam. US stock futures held steady on Thursday as investors awaited the closely watched June jobs report, which is expected to provide fresh insight into the labor market and its implications for Federal Reserve policy. In Wednesday’s regular session, the S&P 500 rose 0.47% and the Nasdaq Composite gained 0.94%, buoyed by a rebound in technology stocks. The Dow Jones was little changed, slipping 0.02%. Sentiment was also shaped by President Donald Trump's announcement on Truth Social that the US has finalized a trade agreement with Vietnam. The deal includes a 20% tariff on Vietnamese imports—significantly lower than the 46% rate introduced in April. On the economic front, ADP data showed private sector employment unexpectedly declined by 33,000 in June, stoking concerns about labor market softness and reinforcing expectations for potential Fed rate cuts. 

Upward trend. VNINDEX closed at 1,384.59 points (+6.75 points, +0.49%) with liquidity reaching the 20-session average. The market saw 204 advancing codes and 109 declining codes. The stock groups contributing most significantly to the market's gain were TCB, BCM, and SSI, while VCB, BID, and VHM contributed to the market's decline. Foreign investors made net purchases of approximately 886 billion VND, primarily concentrated in GMD and GEX

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

U.S. imposes a 20% tariff on goods from Vietnam, while significantly reducing reciprocal tariffs on many Vietnamese exports