HIGHLIGHTS
On November 17, 2024, in Brazil, Vinachem entered into a $120 million automotive tire export agreement with Oceanside One Trading LLC, a prominent trading company in the Americas. The signing ceremony, held during Prime Minister Pham Minh Chinh's official visit to Brazil, underscores the strengthening of economic ties between the two nations. The deal aims to boost Vinachem's automotive tire exports from $70 million to $150 million annually, focusing on the U.S. and Brazilian markets. Oceanside One Trading LLC, which reported $500 million in revenue for 2023, has pledged to deepen its collaboration with Vinachem in tires, chemicals, and fertilizers. The partnership also sets an ambitious goal of achieving $500 million in annual trade turnover by 2030.
TRADING STRATEGY
The stock market ended slightly lower, closing near 1,217 points, with liquidity declining compared to the previous week's average. There was notable divergence, as stocks in financial services, services, chemicals, and media sectors attracted strong cash flows. Conversely, selling pressure was concentrated in key sectors like banking, real estate, retail, and construction materials. The VN-Index is expected to move within the 1,215-1,220 range today.
The market trimmed its losses by the end of the session after testing the psychological support level around 1,200 points. Cash flows improved significantly, with bottom-fishing activity seen in several individual stocks and those highly responsive to overall index movements. The VN-Index is likely to see a modest recovery before further developments confirm the short-term trend. Investors are advised to maintain balanced portfolios proportions, prioritizing strategic stocks with mid-to-long-term growth potential or those already in an uptrend supported by strong cash flows.
