Vietnam Insight

Global equities rebound as oil prices tumble on U.S.–Iran peace deal. US equities closed higher on Thursday, as tech strength and optimism over the US-Iran deal offset concerns over a hawkish Federal Reserve. The S&P 500 advanced 1% and the Nasdaq 100 gained 1.9%, while the Dow rose by 72 points. The interim peace agreement signed by the US and Iran, which includes the reopening of the Strait of Hormuz, raised hopes for an end to the conflict and eased concerns about volatile energy prices. Meanwhile, the Federal Reserve kept rates steady, with half of officials signaling that at least one rate increase may be warranted this year. Intel surged 10.6% after President Trump announced that the semiconductor giant would produce chips for Apple in the US. The news lifted the broader chip sector, with Nvidia up 2.8% and Micron Technology climbing 8.5%. Airlines also saw strong gains, with American Airlines rising 3.3%. Wall Street will be closed on Friday for a holiday.

Accumulating ahead of a breakout. The VN-Index closed at 1,830.47 points, up 24.27 points (+1.34%), while trading volume remained below the 20-session average. Market liquidity declined during the derivatives expiry session.Market breadth was negative, with 97 gainers and 205 decliners. The main positive contributors to the index were VIC, VHM, and VRE, whereas VCB, VJC, and HPG exerted the largest downward pressure.Foreign investors recorded a net sell value of VND 1.89 trillion, primarily concentrated in FPT, VHM, and TCB.

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.

Current portfolio: MBB; CTD

Watchlist: HPG, KDH, SSI