Vietnam Insight

Us-iran hopes for hormuz strait reopening. US stock futures jumped on Monday as investor sentiment improved amid signs that the US and Iran were moving closer to an agreement that could reopen the Strait of Hormuz, helping ease concerns over inflation and interest rate hikes. Still, negotiations over key provisions were ongoing, and final approval from both sides could take several more days. Trading activity is also expected to stay subdued with US markets closed for a public holiday. Last week, the Dow advanced 2.13%, while the S&P 500 gained 0.88% and the Nasdaq Composite added 0.45%, supported by optimism surrounding Middle East peace negotiations and another solid round of corporate earnings. Investors are now turning their attention to upcoming US economic data, including PCE inflation, GDP, and personal income and spending figures, as well as earnings reports from Zscaler, Salesforce and Dell Technologies, among others.

Accumulating ahead of a breakout. The VN-Index closed the week at 1,877.1 points (-44.4 points; -2.31%) on the weekly chart. The market entered a correction phase as the VIN group lost momentum. Foreign investors recorded strong net selling on Friday, bringing total net selling for the week to over VND6 trillion. Meanwhile, growing clarity over the prospect of a deal between Iran and the U.S. is expected to help attract capital flows back into the market.

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.

Sell Recommendation: PDR

Current trading portfolio: VGC, PDR, PC1

Watchlist: HPG,  KDH, HDB, CTD