Last week, the stock market continued to have a trading week that was assessed to be still positive, increasing by 15 points compared to the previous week. VN-Index has had 4 sessions of increase at the beginning of the week as leading industries such as banks continue to attract strong cash flow to help the general index conquer new high points.
Although the market continued to have another week of improvement thanks to strong cash flow, the selling pressure to take profits increased, causing the VN-Index to reverse and decrease quite deeply in the session of August 22. Trading liquidity last week continued to be raised to a new level with an average value of about VND45,400 billion/session, down 13% compared to the previous week.
Regarding the trading value of foreign investors, this group of investors continued to net sell thousands of billions of VND, the value gradually increased towards the end of the week. Accumulated in 5 sessions last week, foreign investors have net sold more than VND 7,815 billion in the whole market.
According to statistics from stock codes, in the last trading week, HPG was the focus of the strongest net selling point with a value of VND 1,584 billion, far surpassing the remaining codes. VPB ranked second with a net selling price of VND 1,181 billion, followed by FPT (VND 587 billion) and MWG (VND 401 billion). Many other large-cap stocks are also under pressure to withdraw capital such as GEX (385 billion VND), CTG (350 billion VND), VIC (343 billion VND) and SHB (329 billion VND).
In the context of the market continuously setting new peaks, analysts believe that fluctuations are inevitable. Some experts recommend that investors should proactively realize profits for stocks that have had a strong increase in their portfolio.
This is to preserve performance and maintain the deposit ratio at a safe level. In addition, you should select stocks that have shown signs of successfully overcoming resistance or convincingly support the test with the support of active buying liquidity to disburse for short-term surfing goals.
Meanwhile, looking at the medium and long term, foreign investors are very confident in the growth momentum of the Vietnamese stock market. In the latest report, foreign fund Pyn Elite Fund has just commented that the stock market is having good growth momentum, and the speed may even accelerate even more after the Vietnamese stock market reaches a new peak.
According to this foreign fund, based on current fundamental factors, this could become a "Big Year" in terms of performance in the stock market. In that case, the core factors will converge and the results will be reflected in the market.
There are a number of reasons given above that government spending is boosting economic growth. Liquidity of the Vietnamese stock market is abundant and the government is supporting bank lending.
It is noteworthy that the instability in Vietnam's exports to the US caused by tariffs has been resolved. FTSE is expected to upgrade the Vietnamese market to emerging market (EM) in October.
Pyn Elite Fund foreign exchange rate assesses the profit growth prospects as very positive with 32% for 2025 and 19,0% for 2026. With such profit growth, the projected P/E in 2026 according to Pyn Elite Fund's calculation is 11.1. The market's increase is highly concentrated, and the rotation will stimulate newly moving stocks and sectors.
