HIGHLIGHTED NEWS
The second round of negotiations for the Vietnam–United States Reciprocal Trade Agreement, held from May 19–22, 2025, in Washington D.C., concluded with significant progress in both substance and direction. Over the course of three working days, the two sides delved into all topics raised during the first round of negotiations, covering market access for goods, services, and investment, as well as issues related to transparency, subsidies, the environment, and technology transfer. Several issue areas reached basic consensus, particularly in fields such as: Market access for agricultural and processed industrial products; Harmonization of technical standards and environmental regulations; Dispute resolution mechanisms and enforcement of commitments; Commitments to intellectual property protection and promotion of technology transfer. Both parties also agreed on a timeline and approach for addressing remaining differences. This includes finalizing the draft text, conducting technical online meetings in June, and preparing for the third round of negotiations, which is expected to be held in Vietnam. On the sidelines of the negotiations, Minister Nguyen Hong Dien and Ambassador Jamieson Greer held a private meeting to review progress and establish strategic directions for the next phase. The U.S. side praised Vietnam’s goodwill and reform efforts, while Vietnam reaffirmed its desire to establish a new trade framework that is stable, reciprocal, and reflective of the stature of the Comprehensive Strategic Partnership.
TRADING STRATEGY
The stock market declined, retreating to the 1,313-point level, with improved liquidity compared to the previous session. Selling pressure increased among large-cap stocks, particularly those leading the real estate, banking, technology, and services sectors. Meanwhile, select stocks in the retail, chemicals, and utilities sectors played a positive role in supporting the overall index. The VN-Index is expected to fluctuate today around the 1,305–1,315 range.
Market volatility emerged toward the end of the session, with profit-taking and portfolio-rebalancing pressures increasing across the board. The main group affected included stocks that had seen a strong recovery previously or those that had risen sharply in price but lacked strong liquidity. Foreign investors continued their net buying trend. The primary trend of the VN-Index remains a recovery toward the key resistance zone of 1,340–1,350 points. However, this phase will be marked by alternating gains and losses, with sector rotation and divergence occurring before any broad-based positive momentum takes hold. Investors should stay flexible between portfolio restructuring and focused trading—particularly for new buying positions—and prioritize fundamentally strong stocks with capital inflows or promising Q2 2025 earnings prospects.
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