Vietnam Insight

Stable developments. US stock futures were broadly steady on Wednesday as investors looked ahead to Nvidia’s earnings report, which is expected to provide fresh signals on the durability of artificial intelligence demand. In regular trading on Tuesday, the Dow advanced 0.76%, the S&P 500 added 0.77%, and the Nasdaq Composite climbed 1.04%, with Wall Street rebounding from Monday’s selloff as concerns eased that AI would rapidly disrupt multiple industries. AMD was the session’s standout, surging 8.8% after Meta unveiled a multiyear agreement to deploy 6 gigawatts of AMD’s graphics processing units across its AI-focused data centers. Software names also participated in the rally, with Salesforce and IBM rising 4.1% and 2.7%, respectively, as analysts pushed back against skepticism over the durability of legacy service models. Meanwhile, DocuSign gained 2.6% after news that Anthropic’s Claude Cowork now integrates with its platform, reinforcing the view that AI is enhancing established enterprise tools.

Heading toward resistance level 1,900. VN-INDEX closed at 1,867.62 (+7.48 points, 0.4%) with improved liquidity, surpassing the 20-day average. The market saw 187 gainers and 142 losers. The stock groups exerting the most downward pressure on the index were FPT, CTG, and VCB, while BSR, VJC, and HPG were the primary drivers of gains.Foreign investors recorded a net buy of 320 billion VND. Notably, they net bought 1,022 billion VND of HPG, while conversely net selling 1,452 billion VND of FPT

Trading Strategy: Short-term investors should prioritize holding existing positions and be ready to sell according to plan. Temporarily refrain from new purchases and strictly limit margin usage as liquidity tends to decline ahead of the Lunar New Year. For medium-term investors, the power sector continues to show good momentum, while the real estate sector is trading at relatively low price levels.