BSC Radar | 17.11 – 21.11: Breaking above the 100-day SMA, the VN-Index has returned to its previous accumulation zone of 1,615 – 1,700 points

GLOBAL STOCK MARKET
Technology stocks sold off sharply after the U.S. Government reopened
The market moved sideways until selling pressure intensified in the technology sector, dragging major indices lower in the 13/11 session. Alongside concerns about high valuations in technology stocks—especially those tied to AI—the market sentiment deteriorated as only 51% of investors expected the Fed to cut rates in December, which negatively affected market performance. Gold prices surged strongly while risk assets and cryptocurrencies faced selling pressure.
- U.S. stock indices rose slightly by an average of 0.2% as of 13/11; EU600 +2.0%, Nikkei 225 -0.1%; CSI 300 -1.1%.
- The commodity index increased by +0.6%, driven by precious metals (gold +4.3%, silver +8.3%), natural gas +5.1%, and agricultural commodities (soybeans +4.4%, rice +3.6%, rubber +2.1%); no notable declines were recorded on the opposite side.
- The DXY index decreased -0.4% to 99.1, while U.S. Treasury yields edged up 0.02% to 4.12%.
The U.S. Government was reopened on 12/11, ending the 43-day shutdown—the longest in history. The House vote revealed a deep divide between political parties. The prolonged shutdown spread across many sectors; for instance, 6% of flights were canceled due to the shortage of air traffic controllers, contributing to a decline in consumer confidence from 53.6 in October to 50.3. Many key economic data releases on inflation and federal labor market conditions for October could not be published, creating difficulties for policymakers and increasing consumer concerns. The reopening of the U.S. Government eased pressure on the economy and partially impacted the financial markets.
The following are key data releases and events to watch next week: G20 meeting (16–17/11); CPI data for Canada and the UK; PMI data for the UK, EU, and U.S.; monetary policy meeting minutes from Australia, the UK, and the U.S. FOMC; U.S. existing home sales, and U.S. unemployment claims.

VIETNAM STOCK MARKET
Rebounding from the low-price zone, the VN-Index regains 1,600 points, ending a 4-week losing streak
The VN-Index rose 2.3%, ending its four consecutive weeks of decline. The market experienced broad divergence, and the rebound of large-cap stocks helped the market escape the bulltrap and return to the previous accumulation range at 1,615–1,700 points. Skepticism about the recovery remains evident as liquidity declined for the fourth consecutive week, falling 21% compared to the previous week.
- The VIC group contributed 11.5 points, equivalent to 30% of the index’s gain, yet the recovery mainly came from large-cap stocks in the VN30 basket, which helped stabilize the market early after recent volatility.
- Gainers accounted for 63% of HOSE, with 16/18 sectors advancing. Several sectors reversed from the previous week: food & beverage and insurance rose sharply by 4–6%, while tourism & entertainment and information technology declined by around 1%.
- Foreign investors extended their net-selling streak with USD 86 million, slightly higher than the USD 80 million net sold last week.
The National Assembly approved the 2026 economic growth target of 10% or higher, CPI of 4.5%, GDP per capita of USD 5,400–5,500, the manufacturing and processing industry reaching 24.9% of GDP, and national labor productivity increasing by 8.5%. The year 2026 is a pivotal year for the 2026–2031 term, and the resolution prioritizes promoting growth based on maintaining macroeconomic stability, controlling inflation, and ensuring major economic balances; accelerating comprehensive institutional reform; removing bottlenecks; unlocking resources; and building an efficient, streamlined, and effective administrative apparatus. This is the most ambitious target ever, reflecting the determination of the entire political system to bring the nation into a new era.
As the market returns to the accumulation zone and risks ease, investors may shift to a short-term trading stance while waiting for signals of trend formation and alignment of market flows to invest in the prevailing trend.