Vietnam Insight

Stable movements. US stock futures slipped on Thursday after Nvidia declined following its latest earnings report. The chipmaker fell about 3% in extended trading despite beating second-quarter earnings and revenue forecasts, as data center sales once again came in below expectations. Nvidia also revealed that it recorded no sales of its H20 chips to China during the quarter and excluded any potential shipments from its guidance. The weakness spread across the semiconductor sector, with AMD (-1.4%), Broadcom (-1.1%) and TSMC (-1.6%) also retreating. Still, analysts stressed that the artificial intelligence rally remains intact and suggested investors view the dip as a buying opportunity. In regular trading on Wednesday, major indexes advanced, with the Dow up 0.32%, the Nasdaq Composite gaining 0.21% and the S&P 500 adding 0.24% to close at a fresh record high.

The uptrend continues. The VN-Index closed at 1,672.78 (+5.15 points, +0.31%) with moderate liquidity. The market recorded 169 gainers and 149 decliners. The stocks contributing most to the market’s upward momentum were VCB, FPT, and BID, while VIC, VPB, and LPB weighed on the downside. Foreign investors were strong net sellers of more than VND 4 trillion, mainly selling HPG, VPB, and VCB.

Trading Strategy: The priority strategy is to hold positions and be ready to sell when targets are reached. If the market corrects to the 1,500–1,550 range, investors may consider partial disbursements into stocks with strong earnings and those benefiting from the market-upgrade expectation. However, if institutional inflows do not return at the 1,500–1,550 range, investors should reduce equity exposure to manage risk.