port update:
74 stock - 26 hedging (20)

rationality:
1. volatile usdvnd
2. ticking bombs in chinese RE (due in coming wks)
3. high valuation, fundamentals could not keep up until late 2024 early 2025 (except banking), most of vn30 which is used for index control have been used with extremely high valuation such as VNM,SAB,GVR,SSB,HPG,SSI some at peak like VCB, FPT. Securities, materials (HSG,NKG) and real estate (DXG,NVL, lots of pennies) also showed sprint with new peak.
4. demand is not strong as expected after the 55pts drop (supply not strong either)
5. major indices continues to find the shortterm bottom (bond market become an attractive alternative given high yield low risk compared to equity) 
