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.
Money is "reversing direction" towards small and medium-sized stocks.
Liquidity in the VN30 blue-chip basket decreased by 111 TP3T compared to the previous session, while total liquidity on the HoSE exchange still increased by 11 TP3T. The weighting of the VN30 basket also only accounted for 48.21 TP3T on the exchange, a record low in 6 months.
- Signal: Positive
- Impact on: VHM, TCB, GAS, PLX, PEQ, DMS, PTV, HNX, BSR, PVD
- Analysis: The strong shift of capital away from the VN30 group and towards small and medium-sized stocks indicates that investors are seeking growth opportunities in sectors with more attractive valuations. This could provide momentum for low- and medium-capitalization stocks in the short term, while also warning of profit-taking pressure on blue-chip stocks. Investors should consider adjusting their portfolios, focusing on companies with strong fundamentals and clear growth prospects amidst this divergence in capital flows. Risk management should involve avoiding over-concentration on any single group of stocks.
Individual investors are aggressively accumulating shares.
Individual investors made net purchases of VND 352.4 billion, of which they made net purchases through order matching totaled VND 698.4 billion.
- Signal: Neutral
- Impact on: BID, CTG, GAS, TCB, MBB, HPG, VPB, DGC, VPL, SHB
- Commentary: Strong net buying by individual investors, especially through order matching, often indicates confidence in the market's potential for recovery or growth. This action can support liquidity and create upward momentum for some stocks in the short term. However, investors need to carefully assess the quality of this capital flow, avoid chasing prices, and focus on stocks with reasonable valuations and clear growth stories. Combining technical and macroeconomic analysis is necessary to make optimal decisions.
VN-Index edged lower, investors cautious ahead of the 1,750 resistance level.
VnEconomy introduces comments and investment recommendations from a number of securities companies on recent market developments.
- Signal: Negative
- Impact on: BVSC, BSC, HSX, HNX, SHS, TVS, TCB, BID, CTG, YSVN
- Market Outlook: The slight decline in the VN-Index and investor caution ahead of the 1,750-point resistance level suggest the market is in a short-term consolidation or correction phase, with potential profit-taking pressure. This is a time to reassess portfolios, prioritizing capital preservation and waiting for clearer market signals. A suitable strategy might be to reduce holdings of rapidly rising stocks and restructure into other promising sectors, or to hold cash and wait for opportunities to invest when the market corrects further.
UOB: Vietnam's economic outlook for 2026 is positive, but global risks remain.
UOB experts forecast Vietnam's economy to maintain growth of around 7.51 TP3T in 2026, with the State Bank of Vietnam likely to keep interest rates unchanged. However, global uncertainty could cause fluctuations in exchange rates and financial markets, while the stock market is expected to grow but with greater divergence.
- Signal: Neutral
- Impact on: UOB, State Bank of Vietnam, FDI, NNNN, NGUY, DXY, TRI
- Assessment: The positive economic growth forecast of Vietnam (7.5%) from UOB is an optimistic macroeconomic signal, supporting investor sentiment and laying the foundation for the sustainable long-term development of the stock market. However, risks from exchange rate fluctuations and global financial markets need to be carefully managed, as they can affect foreign capital flows and overall sentiment. Investors should focus on companies with strong export capabilities and high resilience to exchange rate fluctuations, while diversifying their portfolios to minimize risks from external factors.
Internal supporting factors will help the market better withstand external risks.
The stock market reacted strongly to the shock of the Middle East conflict, with the VN-Index falling by more than 81% since the beginning of March, bringing the market's P/E ratio down to 15 times – significantly lower than the long-term average of 17 times.
- Signal: Positive
- Impact on: FTSE, MSCI, FOL, CCP, FDI
- Analysis: The VN-Index's drop of over 81 TP3T following the global shock, bringing the market P/E ratio down to 15 times, indicates that current valuations have become significantly more attractive than the long-term average. This creates buying opportunities for long-term investors, especially given the market's strong internal support. However, geopolitical risks still need to be monitored, and a phased capital allocation strategy may be suitable to capitalize on corrections. Focus on blue-chip stocks with strong fundamentals and the potential for rapid recovery.
Compared to the 2021-2022 period, the market still has quite attractive growth potential.
Market valuations are relatively stable. However, compared to the peak near 2021-2022, when the P/E ratio traded around 18-19 times, the growth potential remains quite attractive.
- Signal: Positive
- Impact on: PHS, SPDR
- Assessment: Although market valuations are relatively stable, the current P/E ratio being significantly lower than the peak of 18-19 times in 2021-2022 suggests that the market still has attractive long-term growth potential. This presents a good opportunity for investors to accumulate shares of companies with good business prospects, especially those that haven't experienced rapid price increases. Value investing strategies can be highly effective in this context, while maintaining patience and a long-term perspective is necessary to reap rewards.
Stocks hit tariff lows in April 2025, real estate company leaders rush to buy back shares.
To support stock prices in the current environment, many real estate company leaders have planned to buy back shares after significant price reductions, which has somewhat eased negative sentiment about the industry.
- Signal: Positive
- Impacts: PHI, MUA, DIG, BCM, CKG, NBB, KDH, PDR, AGG, DXS
- Analysis: The buyback of treasury shares by real estate company leaders at deeply discounted prices is a strong signal, demonstrating the confidence of those who best understand the businesses in their recovery potential and intrinsic value. This could help stabilize market sentiment, create a bottom for real estate stocks, and attract speculative and value investment capital. Investors can consider real estate stocks with sound financial foundations and promising projects; however, risk management is necessary as the sector still faces numerous legal and liquidity challenges.
Greed arises, and the market becomes fragmented.
The VNI index fell, but trading wasn't bad. The market showed divergence, with money flowing into penny and midcap stocks, indicating that individual investors have become significantly calmer.
- Signal: Neutral
- Impact on: VNI, BSR, GAS, PLX, PVD, VCB, VJC, VNM, MSN, SAB
- Analysis: Despite the VN-Index decline, the divergence and shift of capital towards penny and midcap stocks indicate that individual investors' sentiment has stabilized and they are seeking profits in highly speculative sectors. This is a sign of a shift in risk appetite, but also warns of the potential for significant volatility in small-cap stocks. Investors should carefully select stocks, prioritizing those with unique stories and strong business results, and avoid buying based on rumors. Risk management should involve setting clear stop-loss levels and avoiding excessive margin use.
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.
