Vietnam Insight

U.S GDP in Q3 grew above expectations. US stock futures were little changed on Tuesday after a strong start to a shortened trading week. Dow futures edged up less than 0.01%, while S&P 500 and Nasdaq 100 futures inched up 0.03% and 0.1%, respectively. In regular trading on Monday, the Dow gained 0.47%, the S&P 500 advanced 0.64%, and the Nasdaq Composite rose 0.52%. AI chip heavyweight Nvidia shares advanced 1.5% on reports that the company plans to begin shipping H200 AI chips to China by mid-February. Oracle also rose 3.2% while Micron Technology grew 4%. However, traders anticipated the release of the second estimates of Q3 GDP and updates on the PCE prices index for July, August, and September. The US stock market will shut early on Wednesday for the Christmas Eve start of the holidays, and will be closed all of Thursday for Christmas Day. The GDP in the US advanced an annualized 4.3% in Q3 2025, the most in two years compared to 3.8% in Q2, and forecasts of 3.3%, the delayed estimate showed. The growth mainly reflected increases in consumer spending, exports, and government spending.

Market divergence. VNINDEX closed at 1,751.03 (+46.72 points, +2.74%) with higher-than-average trading volume over the past 20 sessions. The market saw 216 gainers and 97 losers. The stocks contributing most to the index's rise were VIC, VHM, and TCB; while VNM, VCK, and TCX were the stocks hindering the market's upward movement. Foreign investors made net purchases of VND 512 billion, primarily focusing on MWG (VND 192 billion) and GEX (VND 129 billion).

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.

Buy Recommendation: POW