Vietnam Insight

Highlights:

• From November 12–14, Vietnam and the United States continued technical negotiations on the Reciprocal Trade Agreement.
• In the first 10 months of 2025, foreign direct investment disbursement in Vietnam exceeded USD 21 billion, up 8.8% from the same period in 2024 — the highest 10-month FDI disbursement level in the past five years.
• Ministry of Construction: Accelerating public investment disbursement in the last two months of the year.
• The National Assembly finalized the GDP growth target for 2026 at 10% or higher.

Technical View: The VN-Index closed the week at 1,635.46 (+36.3 points; +2.27%) on low liquidity. The index has returned to the 1,600–1,700 trading range. However, this week's advance still failed to surpass last week’s strong bearish candle (around 1,660), indicating that buying demand remains weak; therefore, this week’s movement is mainly technical recovery. We expect stronger selling pressure next week as the index approaches the 1,660 area.

Investment Idea: Short-term traders should limit transactions and wait for clearer signals of buying strength and a new base formation. Medium- and long-term investors may consider gradual accumulation in sectors with solid earnings and attractive valuations, such as banking, finance, and construction materials.