Vietnam Insight

The number of job openings in the US came in below expectations. US stock futures steadied on Wednesday after technology shares dragged major indexes lower in the previous session, as investors assessed a fresh batch of earnings. In extended trading, Advanced Micro Devices sank more than 8% after issuing a weaker-than-expected Q1 forecast, while Chipotle slid about 6% as traffic fell for a fourth straight quarter. In contrast, Match Group jumped 7% on stronger-than-expected earnings and revenue. During regular trading on Tuesday, the Dow fell 0.34%, the S&P 500 lost 0.84%, and the Nasdaq Composite dropped 1.43%, as investors rotated out of richly valued technology stocks into more cyclical names. The selloff was concentrated in AI and semiconductor shares, with notable declines in Nvidia (-2.8%), Microsoft (-2.9%), Micron (-4.2%), Broadcom (-3.3%), and Oracle (-3.4%). Attention now turns to Alphabet’s earnings on Wednesday, followed by Amazon on Thursday. Job openings in the US fell by 303,000 to 7.146 million in November 2025, the lowest since September 2024 and well below market expectations of 7.60 million. 

Correction in an uptrend. The VNINDEX closed at 1,813.40 (6.99 points, +0.38%) with trading volume below the average of the last 20 sessions. The market saw 191 gainers and 127 losers. The stocks that significantly impacted the index's correction were BID, VHM, and MWG; the stocks that contributed to the index's rise were GAS, GEE, and GVR. Foreign investors net sold VND 626 billion, focusing on VIC, PNJ, VCB, and MWG. Meanwhile, they heavily bought HPG and MBB.

Trading Strategy: Corrective pullbacks open up opportunities for investors to increase their positions. We recommend focusing on stocks with solid earnings and positive growth prospects for 2026 that have not yet seen proportional price appreciation, such as private banks, retail, securities, and steel. For stocks that have already seen significant gains—such as state-owned banks and industrial real estate—investors should remain selective and avoid "chasing" prices at current levels.