Vietnam Insight

Global equities rallied on renewed hopes that the US and Iran are moving closer to a peace agreement. US stock futures edged higher on Friday after the major averages climbed for two straight sessions, as oil prices moved lower on renewed hopes for a potential US-Iran agreement to end the conflict. Reports suggested that Iran viewed the latest US proposal as partially narrowing differences between the two sides, while Secretary of State Marco Rubio said there were “some good signs” that an agreement could eventually be reached. In regular trading on Thursday, the Dow advanced 0.55%, the S&P 500 gained 0.17%, and the Nasdaq Composite added 0.09%, marking a second straight day of gains for all three benchmarks. Eight of the 11 S&P sectors closed in positive territory, led by utilities, consumer discretionary, and materials stocks. The major indexes are also headed for weekly gains despite volatility earlier in the week, with the Dow up 1.53%, the S&P 500 higher by 0.5%, and the Nasdaq Composite advancing 0.26% so far.

Accumulate at the peak. The VN-Index closed the trading session at 1,896.89 points (-16.34 points, -0.85%), with trading volume falling below the level of the last 20 sessions. 144 stocks rose, while 152 declined. Stocks positively impacting the index included VPL, MWG, and LPB; while VIC, GAS, and GVR negatively affected the index. Foreign investors net sold VND 1,685 billion, mainly focusing on VIC and FPT; while strongly net bought VPB and VCB.

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, PC1

Watchlist: HPG,  KDH, HDB, CTD