Vietnam Insight

Mixed performance across global markets. US stock futures declined on Friday as investors awaited the release of the May employment report for fresh insight into labor market conditions and the likely path of Federal Reserve policy. Uncertainty also lingered on Wall Street as the fragile ceasefire between the US and Iran held amid reports of stalled negotiations, despite President Donald Trump’s insistence that talks are nearing completion. On the corporate front, shares of Lululemon Athletica tumbled more than 11% in extended trading after the athleisure retailer cut its full-year earnings and revenue forecasts. During Thursday’s regular session, the Dow Jones surged 1.73% to a fresh record high, led by gains in healthcare and financial stocks. The S&P 500 advanced 0.41%, while the tech-heavy Nasdaq Composite slipped 0.09% as a weak outlook from Broadcom weighed on AI-related shares.

Accumulating ahead of a breakout. The VN-Index closed the trading session at 1,831.55 points (+12.54 points, +0.69%), with trading volume remaining below the 20-day average. 140 stocks rose, while 164 declined. Stocks positively impacting the index included VIC, STB, and VHM; while LPB, VPL, and HPG negatively affected the index. Foreign investors net sold VND 5,774 billion, mainly focusing on VIC (-4,886 billion). Meanwhile, they net bought FPT (VND 257 billion).

Trading Strategy: Investors may focus on stocks with sideways consolidation patterns and strong earnings growth rather than concentrating solely on VN-Index fluctuations for medium-term positioning. In the short term, opportunities may emerge in heavily sold off stocks showing signs of recovery, such as insurance, technology, and real estate sectors. Investors should limit the use of margin when the trend is not clearly defined during this period.

Buy Recommendation: MBB

Watchlist: HPG,  KDH, MBB, CTD