Vietnam Insight

Highlights:

• On the evening of July 9 (Vietnam time), on the social media platform Truth Social, U.S. President Donald Trump announced letters notifying new tariffs on seven countries. Specifically, the U.S. will impose a 30% tariff on Algeria, Iraq, Libya, and Sri Lanka; a 25% tariff on Brunei and Moldova; and a 20% tariff on the Philippines. These tariffs will take effect starting August 1, unless the countries reach a trade agreement with the U.S.
• President Trump also stated he would soon impose a 10% tariff on imports from BRICS countries, claiming the bloc aims to undermine the U.S. dollar.

Technical View: The VN-Index closed the week at 1,457.76 points (+70.79 points, +5.1%) on the weekly chart with record-high liquidity, strongly supported by nearly VND 7,000 billion in net foreign inflows. The index has entered a sprint phase led by large-cap stocks, especially VIC, VHM, VCB, and HPG. VNINDEX has risen continuously since last week without any pullbacks, suggesting correction pressure may occur at any time (the RSI indicator has also entered the overbought zone at 86).

Investment Idea: Investors can look to buy during market pullbacks toward support levels such as MA10/MA20. For high-beta stocks such as those in the financial sector, investors should remain cautious, avoid chasing prices, and prioritize short-term trading due to a high probability of reversal. During strong rallies, if short-term targets are reached, investors should still prioritize profit-taking and wait for new opportunities.