Vietnam Insight

Positive developments were seen across multiple markets. US stock futures fell on Thursday as investors assessed another wave of corporate earnings. In extended trading, Nvidia swung between gains and losses after topping analysts’ estimates on both revenue and profit, offering reassurance amid mounting concerns about a potential AI bubble. Meanwhile, Salesforce slid nearly 5% after issuing softer-than-expected fiscal 2027 revenue guidance, reviving worries about weakness across the embattled software sector. During Wednesday’s regular session, the Dow advanced 0.63%, the S&P 500 climbed 0.81% and the Nasdaq Composite surged 1.26%. Software shares led the gains, with Oracle rising 1.2% following a bullish analyst upgrade, while Microsoft and Palantir added 3% and 4.2%, respectively. Doubts surrounding AI-driven service models continued to ease after Anthropic’s latest integrations framed artificial intelligence as complementary to, rather than disruptive of, legacy software platforms.

Heading toward resistance level 1,900. The VN-INDEX closed at 1,860.91 (down 6.71 points, or 0.36%) with improved liquidity, surpassing the 20-day moving average. The market breadth was relatively balanced, featuring 155 gainers and 158 losers. The stocks exerting the most downward pressure on the index were VIC, VHM, and FPT, while GVR, HPG, and BSR helped drive the index higher. Foreign investors recorded a net selling value of 1.061 trillion VND, with HPG seeing a net buy of 1.757 trillion VND, contrasted by a net sell of 2.333 trillion VND for FPT. The sectors that posted impressive gains were basic resources, chemicals, and oil & gas, while the information technology sector faced heavy selling pressure.

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.