Vietnam Insight

President Trump Rejects Iran’s Latest Proposal. US stock futures declined on Monday as investors looked for fresh catalysts in the week ahead while keeping a close eye on developments in the Middle East. President Trump rejected Iran’s latest proposal to reopen the Strait of Hormuz, saying Tehran had overplayed its hand, while adding that he expects negotiations to resume this week. Equity markets remained under pressure from elevated oil prices, which heightened inflation concerns and strengthened expectations for a more hawkish interest-rate outlook. Treasury yields also climbed to multi-decade highs last week amid expectations of further Federal Reserve tightening and growing concerns over government debt. Investors now turn their attention to the Fed’s preferred inflation gauge and key US jobs data due this week. Elsewhere, Trump was scheduled to have dinner with Anthropic CEO Dario Amodei on Sunday, with discussions expected to include the tech executive’s recent calls to slow the development of new AI models.

Accumulates above MA 50. The VN-Index ended the week at 1,785 points (-30.55 points, -1.68%) on the weekly chart, with liquidity declining. Overall, liquidity has yet to show signs of improvement and has remained on a downward trend since the beginning of the year. During the week, volatility was mainly driven by VIC, while other sectors showed mixed performance. The 1,800 support level, corresponding to the daily MA50, is at risk of being breached. Foreign investors recorded their sixth consecutive net-selling session, with net selling of approximately VND 270 billion.

Trading Strategy: Investors may consider accumulating large-cap stocks at lower levels, particularly those expected to attract upgrade-related capital inflows, with attractive valuations and strong fundamentals (FA). However, investors should remain cautious and avoid chasing stocks at high prices, as the primary trend remains range-bound.

Current portfolio: FPT; VCB; Watchlist: HPG, TCH BVH, GAS and securities stock (HCM, SSI, VCI…)