The stock market bulletin records notable developments, providing investors with multi-dimensional information about trends and growth potential. Below is a summary of some of the highlights and analysis of the market situation in the form of a bulletin.
A major pillar unexpectedly collapsed, causing the VN-Index to "fall" at its peak of 1800 points.
In the final minutes of this afternoon's trading session, following news that Vingroup Corporation had submitted a request to withdraw its investment registration for the North-South High-Speed Railway project, stocks in this group reversed sharply downwards. The extremely large market capitalization severely impacted the VN-Index, causing it to drop by 2,241 TP3T, putting significant pressure on the overall market.
- Signal: Positive
- Impact on: VIC, VHM, VRE, VPL, TCB, CTG, VPB, BCM, BID, GAS
- Analysis: The unexpected decline in blue-chip stocks shows that the market remains vulnerable to sensitive information. However, net buying from foreign investors indicates underlying demand and positive long-term confidence. In the short term, investors should exercise caution and wait for a more stable period before reinvesting. Accumulating fundamentally sound stocks may be a reasonable option given the continued risk of news events.
Blue-chip stocks maintain strong momentum, VN-Index nearly surpasses the historic 1800-point mark.
VHM continued its excellent performance this morning – replacing some other large blue-chips that slowed down – contributing to the VN-Index reaching 1805.93 points before retreating slightly to 1792.19 points. Overall market breadth on the HoSE still showed a predominance of red, but within the VN30 basket, the upward trend is dominant.
- Signal: Neutral
- Impact on: VHM, VPL, VRE, GAS, VJC, CTG, VCB, PLX, VIC, MWG
- Analysis: The divergence within the VN30 group reflects the rotation of capital among leading stocks. In the short term, investors can choose stocks that are maintaining good momentum for short-term trading. In the long term, the trend remains positive if the price level continues to be supported by favorable business results and stable macroeconomic policies.
The VN-Index is projected to reach 2,033 points in 2026.
Vietcap forecasts market-wide returns in 2026 to reach 191 TP3T, with the non-financial sector accounting for 141 TP3T. The projected 12-month P/E valuation for the VN-Index in 2026 is 14.39x, with a trailing P/E ratio of 16.84x (actual/target). The VN-Index is expected to reach approximately 2,033 points in 2026.
- Signal: Neutral
- Impact on: FDI, FTA, FTSE
- Assessment: Forecasts of P/E ratios and earnings growth provide a quantitative basis for evaluating the market's upside potential in the medium and long term. However, the realization of these indicators depends on the macroeconomic context and foreign capital flows. Investors should maintain a balanced portfolio, focusing on stocks with solid fundamentals and growth expectations.
“"Santa Claus rally" or year-end turmoil: Global stock investors are being cautious.
Despite Wall Street repeatedly setting new historical highs, global financial markets are closing 2025 on a cautious note.
- Signal: Negative
- Affects: WALL, QUAN, III, TRUY, ANG, PCE
- Assessment: The cautious sentiment at the end of the year often reflects uncertain expectations regarding monetary policy and global economic growth. In the short term, the market may correct due to profit-taking. In the long term, if interest rates remain stable and capital flows return, global stocks will have the opportunity for sustainable growth. Investors should reduce leverage and increase cash holdings temporarily.
Bank non-performing loans decrease: A sign that the stock market will continue to boom?
Non-performing loans improved for four consecutive years between 2015 and 2019, during which time the stock market increased by approximately 701 TP3T. The last 18 months also saw a renewed decline in non-performing loans, coinciding with a stock market increase of 45.71 TP3T.
- Signal: Positive
- Impacts: NPL, SML, IFRS
- Assessment: The improvement in bank asset quality contributes to strengthening expectations of sustainable economic growth and the capital market. Bank stocks may capitalize on this momentum to break through, especially in the context of stable interest rates. A strategy of gradually accumulating shares in leading banks is reasonable, but close monitoring of newly arising non-performing loans is necessary.
Gold prices weakened after reaching new highs, but SPDR Gold Trust continued to be a net buyer.
Meanwhile, silver prices continued their upward trend and set a new closing record.
- Signal: Neutral
- Impact on: SPDR, FOMO
- Analysis: Increased SPDR buying indicates that demand for macroeconomic risk hedging remains high. In the short term, gold prices may not return to a strong upward trend due to profit-taking pressure, but in the long term, it remains a safe haven. Investors may consider a small allocation in their portfolio to diversify risk.
Overview of the steel industry in 2026: Impressive growth in construction steel and hot-rolled coils.
The Vietnamese steel market in 2025 recorded impressive growth in the construction steel and hot-rolled coil steel sectors.
- Signal: Neutral
- Impact on: HPG, VDSC
- Assessment: The steel industry is gradually recovering thanks to increased public investment and exports. In the short term, steel stocks may face pressure due to unstable profit margins. However, in the long term, this remains an attractive sector for medium-term investment. Investors need to carefully select companies with good governance and modern production capabilities.
Banks are making a fortune from gold trading and gold vault services.
Revenue from the precious metals trading divisions of leading global banks increased by 50% in the first nine months of this year.
- Signal: Neutral
- Impact on: MKS, HSBC
- Assessment: The development of gold services shows that the trend of revenue diversification at large banks is proving effective. However, investors need to assess the risks of the commodity market and related legal regulations. In a fiercely competitive environment, businesses with innovative capabilities will have a medium-term advantage. This is a sector worth watching in a diversified portfolio.
The stock market news bulletin aims to provide investors with an overview, while emphasizing the importance of careful analysis before making investment decisions. Following market news from HVA The provision will help investors seize opportunities from short-term fluctuations and adjust their portfolios in line with market trends.
