Vietnam Insight

Mixed performance. US stock futures advanced Friday following a mixed performance in the prior session. On Thursday, the Dow fell 0.51% and the S&P 500 slipped 0.08%, while the Nasdaq Composite rose 0.35%. Sentiment was shaped by the rollout of President Donald Trump’s sweeping retaliatory tariffs, which took effect at midnight and ranged from 10% to 41%. Semiconductor shares outperformed after Trump clarified that his 100% levy on imported chips would exempt firms manufacturing within the US. In political developments, Trump nominated Stephen Miran, chair of the Council of Economic Advisors, to replace Adriana Kugler on the Federal Reserve Board of Governors. Reports also suggested Fed Governor Christopher Waller is a leading contender to head the central bank, bolstering market bets on a September rate cut.

Waiting for trend confirmation. VNINDEX closed at 1,581.81 (+8.10 points, +0.51%) with liquidity around the 20-session average. The market had 223 stocks increasing and 106 stocks decreasing. The group of stocks contributing the most to the market's increase were VPB, HPG, BID while VIC VHM VCB contributed to the market's decrease. Foreign investors net sold about 81 billion, FPT continued to be net sold more than 369 billion.

Trading Strategy: Investors should limit disbursement in recovery sessions with low liquidity and wait for clearer confirmation of the uptrend. In technical correction sessions around 1,400-1,450 points, investors can consider partial disbursement in stocks with good business results and benefiting from market upgrade expectations. In case institutional cash flow does not reappear in the 1,400-1,450 point area, investors can reduce the proportion of stocks to manage risks.

Buy Recommendation: HDG PNJ