HIGHLIGHTED NEWS
During its session on the morning of April 12th, the National Assembly unanimously approved a resolution to reduce the environmental protection tax, value-added tax, and special consumption tax on gasoline, diesel, and aviation fuel to 0% from April 16th to June 30th, 2026. This applies to items such as gasoline (excluding ethanol), diesel fuel, kerosene, fuel oil, and aviation fuel. Accordingly, businesses will not have to declare or pay output VAT but will still be able to deduct input tax. This policy is expected to reduce budget revenue by approximately 7,300 billion VND per month, but is considered a necessary fiscal measure to cool down energy costs, support the economy, and control inflation amidst global fluctuations. At the same time, the Government is empowered to flexibly adjust the implementation time and propose compensatory solutions such as increasing budget revenue, expanding the revenue base, saving at least 10% of recurrent expenditures, and striving for an additional 5% savings to ensure fiscal balance.
TRADING STRATEGY
The stock market recovered to the 1,750 point mark in the final trading session of the week, with slightly lower liquidity compared to the previous session but still high compared to the weekly average. Improved capital flow was led by large-cap stocks in the banking, oil and gas, construction, and materials sectors. Meanwhile, selling pressure mainly affected individual stocks in the financial services, basic resources, and industrial services sectors. The VN-Index is likely to fluctuate around the 1,740-1,765 point range today.
The market is currently in a recovery trend, aiming to conquer the 1,740-1,760 point resistance area. Cautious sentiment due to concerns about unpredictable developments in global geopolitics at the end of the week led to profit-taking and portfolio reduction pressure for the second consecutive session. However, supportive domestic macroeconomic data is helping to temporarily stabilize capital flows, and the opportunity for the index to advance towards the 1,780-1,800 point range remains. Nevertheless, investment opportunities in the coming period (especially in the short term) may need to be more selective rather than spread broadly as in the previous period. Investors should maintain holding positions, combined with accumulating shares of fundamental stocks that have confirmed upward trends and are part of a medium-term strategy portfolio, prioritizing small dips and cooling-offs during the upward movement. Short-term trading should be flexible and follow capital flow trends.
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