Vietnam Insight

US stocks pull back. US stock futures edged lower on Thursday after major averages fell for a second straight session, pressured by declines in technology and bank shares. In Wednesday’s regular trading, the Dow slipped 0.09%, the S&P 500 lost 0.53% and the Nasdaq Composite dropped 1%. Chipmakers and software names including Nvidia (1.4%), Broadcom (4.2%), Micron (1.4%) and Oracle (4.3%) fell after reports that Chinese authorities are restricting certain US-made chips and cybersecurity software. Other tech heavyweights also slid, with Microsoft (2.4%), Amazon (2.5%) and Meta (2.5%) lower. Financials extended their recent selloff, led by Wells Fargo, which sank 4.5% on weaker revenue, while Bank of America (3.8%) and Citigroup (3.3%) declined despite beating profit estimates, amid concerns over President Trump’s proposed cap on credit card interest rates.

Widening market breadth, uptrend confirmed. The VNINDEX closed at 1,894.44 (-8.49 points, -0.45%) with higher-than-average trading volume over the past 20 sessions. The market saw 203 gainers and 131 losers. Stocks hindering the market included VIC, VHM, and VPB; the stocks contributing most to the index's rise were BID, VCB, and GVR. Foreign investors net sold VND 451 billion, primarily focusing on VHM, MSN, and VRE.

Trading Strategy: Investors may initiate positions in stocks with solid fundamentals and improving liquidity that have reclaimed their EMA50, such as Securities, Banking, Construction Materials, and Industrial Real Estate... Conversely, for sectors exhibiting weakening capital inflows—such as Residential Real Estate—investors should consider paring back exposure to manage risk if stop-loss levels are triggered.