Vietnam Insight

Cooling inflation data. US stock futures held steady on Friday after the major indexes rebounded in the previous session, as investors assessed cooler inflation data that reinforced a dovish outlook for Federal Reserve policy. In Thursday’s regular trading, the Dow rose 0.14%, the S&P 500 gained 0.79% and the Nasdaq Composite advanced 1.38%, with all three benchmarks recouping some losses from earlier in the week. US annual inflation eased to 2.7% in November, the lowest level since July and below market expectations of 3.1%. Core inflation also slowed to 2.6%, the lowest since March 2021. While the data remain somewhat volatile due to the absence of October figures following the government shutdown, a sustained moderation in price pressures could open the door to additional Fed rate cuts next year. On the corporate front, Nike shares sank more than 10% in extended trading after the company reported weaker China revenue, with higher tariffs weighing on gross margins.

The correction index is below the psychological support level of 1,700. VN-INDEX closed at 1,676.98 (+3.32 points, +0.2%) with liquidity falling below the 20-day average. The market saw 141 gainers and 150 losers. The top contributors to the index's upward momentum were VJC, GEE, and HDB, while CTG, FPT, and DGC exerted the most downward pressure. Foreign investors remained net sellers to the tune of 851 billion VND, focusing primarily on DXS (423 billion VND) and VIC (331 billion VND).

Trading Strategy: Investors are watching stocks that have held their value well during the correction of the VIC group. If the market shows signs of rebounding near the 1,600 level, it could present an opportunity to initiate new purchases; however, caution is still advised as liquidity and market sentiment remain weak.