Vietnam Insight

AI drives gains in global equities, crude oil declines for a fourth consecutive session. Nasdaq 100 futures climbed 2% on Thursday after Micron Technology’s strong earnings outlook reinforced optimism surrounding the artificial intelligence sector. S&P 500 futures advanced 0.6%, while Dow futures added 0.1%. In after-hours trading, Micron shares soared more than 15% after the memory-chip maker posted fiscal third-quarter results that exceeded expectations and forecast current-quarter revenue of $50 billion, sharply higher than $11.3 billion a year earlier and above analysts’ estimate of $43.58 billion. Qualcomm also rallied 13% after lifting its fiscal 2029 non-handset revenue target to $40 billion from a previous forecast of $22 billion. Other semiconductor-related stocks moved higher as well, including Sandisk, Western Digital, Marvell Technology, Applied Materials, and Lam Research. Investors are now awaiting the latest PCE price index report, the Federal Reserve’s preferred measure of inflation.

Accumulating ahead of a breakout. The VN-Index closed at 1,878.02 points, gaining 8.98 points (+0.48%), while trading volume remained below the 20-session average. Market breadth was negative, with 113 advancers and 178 decliners.The main contributors to the index's gain were VIC, VHM, and LPB, whereas BID, VCB, and STB exerted the largest downward pressure on the benchmark. Foreign investors recorded a net selling value of VND 601 billion, primarily driven by sales in FPT, CTG, and VPB.

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, Real estate stocks (PDR, NLG, DXG)