Vietnam Insight

Maintaining the global upward momentum. US stock futures held steady on Tuesday as investors prepared for April’s consumer inflation report, which may offer fresh insight into how the Iran war is influencing the economy and shaping expectations for Federal Reserve policy. Traders also continued monitoring developments in the Middle East after President Trump said the US-Iran ceasefire was on “massive life support” following his rejection of Tehran’s latest peace proposal. Meanwhile, Trump is expected to meet with Chinese President Xi Jinping later this week, with trade and artificial intelligence likely to dominate discussions between the two leaders. During Monday’s regular session, the S&P 500 and Nasdaq Composite advanced 0.19% and 0.1%, respectively, with both indexes closing at fresh record highs as chipmakers extended gains amid ongoing optimism surrounding AI-driven demand. The Dow also added 0.19%. Six of the 11 major S&P sectors finished in positive territory, led by energy, materials, and industrial stocks.

Uptrend. The VN-Index closed the trading session at 1,895.50 points (-19.87 points, -1.04%), with trading volume exceeding the average of the previous 20 sessions. There were 104 gainers and 213 decliners. Stocks that contributed positively to the index included BSR, GEE, and LPB, while VIC, VHM, and BID weighed negatively on the market. Foreign investors recorded a net sell value of VND 1,019 billion, mainly concentrated in VHM, FPT, and DGC.

Trading Strategy: Investors should avoid aggressively chasing overheated stocks amid still-limited market breadth. For medium-term positioning, the focus should remain on low-base stocks with strong Q1 earnings growth, including banks with high credit growth quotas and multiple positive catalysts, undervalued real estate stocks, steel, retail, and related sectors.

Current trading portfolio: MBB, PDR, VPB

Watchlist: HPG, NLG, KDH, HDB