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▶ The market continued the previous sessions increase with a gap of 2.07 points despite strong selling pressure from foreign investors from the beginning of the session, the selling pressure mainly focused on VJC and HDB stocks. The market was under strong selling pressure in the afternoon session, however, thanks to the support of the banking stocks, especially VCB thanks to positive credit growth information reaching 8.5% and the impressive bad debt ratio. ▶ At the end of the trading session, VN-Index closed above the reference point, increased 1.77 points (+0.13%), reaching 1,377.84 points; HNX-Index decreased 0.77 points (-0.34%), to 288.45 points. Market liquidity improved compared to previous trading sessions, reaching VND 22.9 trillion, equivalent to 925 million shares traded. Foreign investors net sold VND 365 billion during the session, mostly concentrated in VJC, HDB and HPG. On the other hand, HVN, MSN and FPT were the stocks that suffered the most net buying pressure. ▶ Technical perspective: The market recorded active buying pressure right from the beginning of the session, then fluctuated around the reference level for most of the trading time. At the end of the session, VN-Index formed a doji candlestick, reflecting the hesitant psychology of investors. Liquidity continued to remain low, showing that demand has not improved significantly. The main driving force helping the market maintain green in the session mainly came from low selling pressure. Currently, VN-Index has been moving in an uptrend. If selling pressure continues to be insignificant, VN-Index will likely maintain this upward momentum in the coming time. In the positive case: The market maintains MA50 in the face of short-term profit-taking pressure from the market, along with positive information from tax negotiations from Vietnam. This will open up a positive signal to help investors confidently disburse in the coming time. In the base case: Vietnam has no new progress on tax agreements, the main trend will still trade sideways waiting for clearer signals from the market. Strategy: Investors temporarily stop buying new stocks that have increased and prioritize holding instead. If you are buying new, you can participate with a low proportion, prioritizing groups that are closely following the MA 20/50/200 support and are in an uptrend. You can prioritize real estate, banking, and energy groups that are in low areas and have an accumulation base.  

Treasury yields declined amid growing expectations that the FED will cut interest rates. US stock futures edged lower on Tuesday following a strong close to both the month and the quarter, with the S&P 500 and Nasdaq Composite reaching new all-time highs. In Monday’s regular session, the S&P 500 rose 0.52% while the Nasdaq gained 0.47%, buoyed by solid gains in Big Tech names such as Microsoft and Meta, which also notched fresh record highs. The Dow Jones also added 0.63%. Investor sentiment was lifted after Canada rolled back its proposed digital services tax in a move aimed at easing trade tensions with the US. Markets are also awaiting developments on new trade agreements with key US partners, ahead of the expiration of President Trump’s 90-day reprieve on reciprocal tariffs. Meanwhile, Treasury yields declined amid growing expectations of Federal Reserve rate cuts later this year, further supporting the bullish outlook for equities.   Upward trend. VNINDEX closed at 1,376.07, up 4.63 points (+0.34%), with liquidity decreasing. There were 216 gaining stocks and 92 declining stocks in the market. The stock group contributing most strongly to the markets increase included VCB, TCB, and BID, while VHM, HPG, and SAB contributed to the markets decline. Foreign investors were net buyers of approximately 592 billion VND, with value primarily concentrated in MSN and NLG   Trading Strategy: Investors are temporarily holding off on buying stocks that have already seen strong gains, as capital may shift toward stocks trading below their 200-day or 50-day moving averages. For new buying positions, priority can be given to real estate and banking stocks that are trading at low levels with a consolidation base; however, the allocation should remain modest  

▶ The market started the trading week with an increasing gap of 4.32 points, although there was selling pressure immediately after that which brought the index close to the reference, it still successfully closed with an increase of nearly 5 points. The market was supported by some banking representatives such as VCB, TCB, BID. Liquidity of the whole market continued to remain low with the return of net buying by foreign investors.  ▶ At the end of the trading session, the VN-Index increased by 4.63 points (+0.34%), reaching 1,376.07 points; HNX-Index increased by 1.41 points (+0.62%), reaching 229.22 points. Liquidity of the market remained stable at VND 20.6 trillion, equivalent to only about 789 million shares traded. Foreign investors net bought VND 592 billion during the session, mostly concentrated in MSN, NLG and DBC. On the other hand, HPG, VHM and BID were the stocks that suffered the most selling pressure. ▶ Technical perspective: The market recorded an increasing session fluctuating within a narrow range. Liquidity continued to remain at a low level, showing that demand has not improved much. The momentum for the increase was mainly due to low selling pressure. Currently, VN-Index has been moving in an uptrend. If the selling pressure continues to be insignificant, VN-Index is likely to maintain this upward momentum. In the positive case: The market maintains MA50 against short-term profit-taking pressure from the market, along with positive news from tax negotiations from Vietnam. This will open up a positive signal to help investors confidently disburse in the coming time. In the base case: Vietnam has no new progress on tax negotiations, the main trend will still be trading sideways and waiting for clearer signals from the market. Strategy: Investors should temporarily stop buying new stocks that have increased and prioritize holding instead. When considering new buying positions, investors should participate with a low proportion and prioritize groups that closely follow the support of MA 20/50/200 and are in an uptrend. Real estate, banking, and energy groups which are in low price ranges and have been forming accumulation bases are considered as attractive sectors.    

Hai An Transport & Stevedoring Company (HAH) is a pioneer in shipping sector in Viet Nam. In 2025, HAH set a slightly increased business plan amid market volatility. In the first half of 2025, driven by buoyant trade demand, HAH completed nearly 64% of its set annual plan. We maintain a positive outlook for HAHs business operations for the entire year 2025 thanks to: (1) charter contracts signed at favorable rates in 2024, along with the addition of 1-2 new vessels in 2025; (2) the opening of new shipping routes, such as Intra-Asia, the US, and Europe; and (3) strong growth in global trade demand. Based on DCF methods, we update HAH’s target price at VND 71,100.

The S&P 500 hits a new record high, easing concerns over tariffs and geopolitical risks. US stock futures rose on Monday as Wall Street aimed to close out a strong June, with both the S&P 500 and Nasdaq Composite hitting new all-time highs. For the month, the S&P 500 has gained 4.42%, the Nasdaq 6.07%, and the Dow Jones Industrial Average 3.67%. The rally has been fueled by the Trump administrations decision to scale back sweeping reciprocal tariffs, alongside investor optimism over progress in trade negotiations ahead of key deadlines. On Friday, equities extended gains after Commerce Secretary Howard Lutnick announced that the US and China had finalized a trade framework. Attention now turns to the Senate, where lawmakers are debating President Donald Trump’s big beautiful bill, which proposes substantial spending increases and tax cuts. Meanwhile, a growing number of S&P 500 companies are issuing upbeat earnings guidance for the second quarter, buoyed by easing tariff pressures and reduced geopolitical uncertainty.   Upward trend. VNINDEX closed at 1,371.44 (+5.77 points, +0.42%) with a decrease in liquidity. The market saw 163 advancing stocks and 138 declining stocks. The stock group contributing most strongly to the markets gain included MSN, VHM, and VNM, while MBB, GAS, and STB contributed to the markets decline. Foreign investors net-sold approximately 12 billion VND, primarily in VCI and FPT    Trading Strategy: Investors are temporarily holding off on buying stocks that have already seen strong gains, as capital may shift toward stocks trading below their 200-day or 50-day moving averages. For new buying positions, priority can be given to real estate and banking stocks that are trading at low levels with a consolidation base; however, the allocation should remain modest