Vietnam Insight

Highlights:

• According to CBS News, during a meeting on July 15, Donald Trump asked a group of Republican lawmakers whether he should fire the Federal Reserve Chair. The attendees reportedly expressed agreement.
• Starting January 2026, only electric vehicles will be eligible for new ride-hailing contracts. From 2027, gasoline-powered cars will be restricted during peak hours, and by December 2029, they will be completely banned from ride-hailing services.
• Prime Minister Pham Minh Chinh stated that the government aims for national GDP growth of 8.3–8.5% in 2025, laying the groundwork for achieving double-digit growth in the following period.

Technical View: The VN-Index closed the week at 1,497.2 points (+39.52 points, or +2.71%) on the weekly chart, with liquidity continuing to hit new highs. However, foreign net buying dropped to just over VND 1,000 billion, compared to over VND 5,000 billion the previous week. The index continued to rise sharply, led by large-cap stocks, particularly VIC and VHM. Meanwhile, mid-cap stocks also saw explosive growth in both liquidity and index performance. At this stage, the market is in overbought territory after five consecutive weeks of gains without correction. The RSI indicator is also signaling overbought conditions.

Investment Idea: Investors may consider buying during market pullbacks toward the MA10/MA20 support levels. For high-beta stocks such as those in the financial sector, caution is advised—avoid chasing prices. In strong rallies, if short-term targets have been reached, investors should prioritize taking profits and wait for new opportunities to emerge.