Vietnam Insight

US job revisions. US stock futures were little changed on Wednesday as investors awaited key inflation reports that could shape the Federal Reserve’s policy outlook. The producer price index is due later today, followed by the consumer price index on Thursday. On Tuesday, the Nasdaq Composite gained 0.37% to notch another record close, while the Dow advanced 0.43% and the S&P 500 added 0.27%. Meanwhile, sharp downward revisions to US jobs data bolstered expectations for a Fed rate cut next week, with debate now centered on the scale of the reduction. The US economy added 911K fewer jobs in the 12 months through March 2025 than initially reported - the largest downward revision since at least 2000 - according to the BLS’s preliminary benchmark revision. This represents a -0.6% adjustment, compared with an absolute average change of 0.2% in total nonfarm employment over the past decade.

Rally loses momentum. The VN-Index closed at 1,637.32, up 12.79 points or 0.79%, with liquidity lower than the 20-day average. There were 168 advancing stocks and 130 declining stocks. The stocks contributing most to the market's increase were VIC, VPB, and VHM, while VCB, LPB, and GAS contributed most to the decline. Foreign investors were net sellers of over 871 billion VND, primarily in HPG and MBB.

Trading Strategy: Prioritize a holding strategy and be ready to sell once targets are met. For short-term traders, if the market corrects to around 1,600 points and rebounds, a small allocation can be considered. If the market returns to the 1,540-point area, there will be a clearer buying opportunity for medium-term positions. In addition, investors should maintain a balanced ratio of stocks and cash in their portfolios.