Securities have many positive factors, expected to improve after the holiday

Positive first quarter business results, balanced market sentiment

According to Mr. Dao Hong Duong - Director of industry and stock analysis, VPBank Securities Company (VPBANKS), psychological caution is commonly seen before each long vacation, especially in the context of a lot of information about tariffs. However, the negative fluctuations in recent years are considered to have partly reflected in the market. "We think that the worst case has been discounted in prices, the market is at a very attractive price with P/E only about 10.5 times - the valuation area rarely appears in the past 10 years," Duong said.

One of the positive factors is the business results of the first quarter of 2025 and the 2025 business plans of many enterprises that are being announced during the general meeting of shareholders. Notably, most large enterprises confirm that they are not directly affected by tariffs. This helps balance market sentiment, as concerns about external influences are gradually taking shape.

Mr. Dao Hong Duong also emphasized that the differentiation between stock groups will be the main trend in the coming time. "Shares linked to domestic consumption, public investment, or not directly affected by tariffs will have many opportunities. Industry groups such as banking, information technology, basic resources, retail - consumer, residential real estate, securities and financial services all have positive prospects if considered in the medium - long term," he said.

Regarding the prospect of trading week after the ceremony, Mr. Dinh Quang Hinh-Head of Macro and Market Strategy, VNDirect Securities Joint Stock Company-forecast: "The VN-Index will re-test the resistance area of ​​1,240–1,241 points (the peak of the previous recovery rhythm). He also emphasized, "The business results of the first quarter of listed businesses will be an important support for the market in the short term".

According to Mr. Hinh, the official operation of the KRX trading system from May 5, 2025 also "opens up new expectations for the market, creates room for new financial product development, and supports the goal of upgrading the Vietnamese stock market to the emerging market group according to the classification of FTSE and MSCI".

Regarding investment strategy, Mr. Hinh recommended: "Investors can continue to hold stocks in a moderate proportion, prioritizing industry groups with positive business results in the first quarter and positive prospects in the second quarter such as Banking, Retail, Seafood, Electricity and Public Investment". However, he also noted that it is necessary to be cautious with the risk of fluctuations and limit the use of financial leverage in the current period.

Operating the KRX system is an important pillar

In particular, the event of operating the KRX system is considered by both experts to be an important fulcrum for the market. This system not only helps increase order processing capacity, but also creates a foundation for implementing new financial products such as options contracts, fake sales, compulsory buying (buy-in)... and serves the goal of upgrading the Vietnamese stock market in 2025.

In the context of the market still fluctuating due to information from outside, experts recommend that investors should be steadfast with medium and long-term goals, prioritizing stocks that are less affected by tariffs and have attractive valuations. The cautious allocation of capital, partially according to the pyramid model, is also considered an effective strategy, helping to control risks in a period of many variables.

When the market enters a new uptrend, it usually lasts at least 6 months. Therefore, preparing a reasonable portfolio early will help investors seize the opportunity without having to guess the bottom, Mr. Dao Hong Duong shared.