Vietnam Insight

The Nasdaq Composite closed at a fresh record high. US stock futures edged higher on Thursday after the S&P 500 and Nasdaq Composite closed at fresh record highs, supported by continued strength in technology shares, while investors looked ahead to President Donald Trump’s meeting with Chinese President Xi Jinping. During Wednesday’s regular session, the S&P 500 advanced 0.58% and the Nasdaq climbed 1.2%, whereas the Dow Jones slipped 0.14%. The gains came despite fresh data showing US producer prices rose in April at the fastest pace since 2022, reinforcing expectations that the Federal Reserve could maintain a hawkish policy stance. Technology stocks remained the main driver of the rally, with notable advances from Micron Technology, Nvidia, Tesla, Apple and Alphabet. In after-hours trading, Cisco Systems surged nearly 20% after posting stronger-than-expected quarterly results and announcing plans to eliminate almost 4,000 jobs. Meanwhile, Doximity tumbled 18% following weaker-than-expected earnings.

Accumulate at the peak. The VN-Index closed the trading session at 1,898.37 points (-2.73 points, -0.14%), with trading volume higher than the average of the last 20 sessions. 144 stocks rose, while 168 declined. Stocks positively impacting the index included GAS, BID, and BSR; while VIC, VHM, and STB negatively affected the index. Foreign investors net sold VND 1,434 billion, mainly focusing on FPT, ACB, and VHM.

Trading Strategy: At this stage, investors may consider focusing on stocks with sideways accumulation price structures and strong earnings growth, rather than concentrating solely on fluctuations of the VN-Index (which has been heavily influenced by the VIC group). Based on our observations, many stocks in sectors such as real estate, banking, construction materials, retail and securities have exhibited accumulation price patterns, improving business performance, and are suitable for investors to accumulate ahead of Q2 and Q3/2026 earnings results.

Current trading portfolio: VGC, PDR, VPB

Watchlist: HPG, NLG, KDH, HDB