After 9 consecutive sessions of setting historical peaks, the stock market has officially recorded the first correction. At the end of the trading session on August 15, the VN-Index decreased by 10.69 points (-0.65%), down to 1,630 points.
The total trading volume reached more than 2.07 billion units, worth VND59,466.4 billion. With this score, during the week, the VN-Index still recorded an increase of 45 points, equivalent to +2.84%.
Regarding foreign transactions, foreign investors continued to sell strongly with VND 3,089 billion in the whole market, extending a streak of 7 consecutive "disbursement" sessions. On HoSE alone, foreign investors have net sold nearly VND3,016 billion.
VIX shares were net bought the most by foreign investors in the whole market with a value of 174 billion VND. In contrast, HPG shares continued to be the code that foreign investors were net selling strongly with 700 billion VND; FPT and MBB were also "released" strongly at 500 billion VND per code.
Experts say it is very difficult to determine the short-term peak of the market at this time. The reason is that the macro context is favorable, listed company profits are growing strongly and investor confidence is increasing.
Although the VN-Index has surpassed the historical price peak at the end of 2021, the market valuation is currently at 14.5 times P/E - lower than the 5-year average and 18 times below the 2021 mark. This shows that there is still room for growth when listed corporate profits, especially in the banking and real estate groups, improve.
However, in the context of the current increase rate being faster than previous increases, there is a fear of increasing adjustments. Profit-taking pressure may come as a surprise, similar to 2021 when the market had 5 adjustments above 5%, of which 2 were down more than 10%. Experts recommend that investors always have to manage risks, the corrections will be an opportunity to increase the proportion and help those who missed the mark.
According to the newly published strategy report, Maybank Investment Bank also maintains a positive view for the second half of 2025 with investment from the Government and businesses still the main growth driver in the second half of the year.
While personal consumption is expected to recover later, supported by improved consumer confidence, support policies and the asset effect of the real estate market and stocks increasing in price. This will help growth spread and be more qualified in the second half of 2025.
Maybank raised its 2025 market profit growth forecast by 3.4 percentage points to 18.5%. Maybank maintains a positive view for the second half of 2025, raising the target of VN-Index by the end of the year by 20% to 1,800 points.
