Vietnam Insight

Gold prices tumbled as much as 6.2% to around $4,100 per ounce. US stock futures were steady on Wednesday as traders evaluated the latest round of corporate results. In extended trading, Netflix slid over 6% after missing Q3 earnings expectations, while Mattel sank more than 5% on weaker-than-expected results. Conversely, Intuitive Surgical and Western Alliance climbed 17.1% and 2.9%, respectively, following strong quarterly performances. During Tuesday’s regular session, the Dow rose 0.47% to a fresh record high, supported by upbeat earnings from major components including Coca Cola and 3M. Meanwhile, the S&P 500 finished flat and the Nasdaq Composite dipped 0.16% as momentum in tech stocks faded. Investors now await Tesla’s earnings on Wednesday for further cues on the sector and look ahead to Friday’s CPI report amid a data blackout from the ongoing US government shutdown. Gold prices tumbled as much as 6.2% to around $4,100 per ounce on Tuesday, their biggest daily drop since April 2013, after touching a record high of $4,382 on Monday.

Short-term decrease. VNINDEX closed at 1,663.43 (up 27 points, +1.65%) with turnover higher than the 20-session average. There were 213 gaining stocks and 133 declining stocks. The stocks contributing most strongly to the market's rally were VIC, VHM, and FPT; those contributing to the market's decline were MSN, GAS, and NVL. Foreign investors were strong net buyers, totaling 2,408 billion VND.

Trading Strategy: Short-term investors should refrain from making new purchases for now and wait for the market to form a price base. If the market successfully retests the 1,600-point level, investors may consider allocating capital for medium- to long-term positions, focusing on stocks with strong catalysts — such as those benefiting from market reclassification, robust earnings growth, or valuations that remain lower than the broader market.