The stock market ended the trading week from May 5-9 in green with 4/5 sessions of increase, thanks to the enthusiasm from the official operation of the KRX system and expectations for the results of Vietnam - US trade negotiations.
The VN-Index increased by 3.34%, closing the week at 1,267.3 points, the highest level in more than a month. HNX-Index increased by 1.03% to 214.13 points. Liquidity in the whole market has improved significantly.
On the HOSE floor, the average trading volume reached more than 742 million shares/session, up 9% compared to last week. On the HNX floor, the average volume was nearly 61 million shares/session, up sharply by 28%.
Vingroup stocks were the biggest bright spot of the week. VIC contributed nearly 8.2 points to the increase of the VN-Index, the highest level in the whole floor. VHM also contributed an additional 3.8 points.
The price increase motivation comes from the information that Vinpearl - a subsidiary of Vingroup will be listed on HOSE on May 13 with a VPL code and a reference price of VND 71,300/share, equivalent to a valuation of nearly 5 billion USD.
VIC shares had 4/5 sessions of price increase this week, of which the session 8.5 increased the ceiling to a 3-year peak of VND 78,500/share. At the end of the week, VIC code adjusted slightly to VND 76,500/share but still increased by more than 26% in the past month, with an average liquidity of more than 10 million shares/session.
In addition to VIC and VHM, other pillar stocks also contributed significantly to the increase of the VN-Index.
As of May 5, the growth of net interest rates in the first quarter of 2025 in the whole market still maintained a growth rate of 23% over the same period, although slowing down compared to the increase of 29% in the previous quarter but extending the growth chain of 6 consecutive quarters.
However, profit growth in the coming quarters is still a mystery as businesses, although still confident when setting growth plans, have admitted that "uncertainties" surrounding tariffs will weaken growth.
According to analysts, in order to continue the stable recovery, the market needs to accept more positive and specific changes in the trade negotiation process between major economies, as well as the negotiation process between Vietnam and the US.
Industries less directly affected by tariffs such as media, residential real estate, retail, tourism and entertainment have performed positively and remarkably during the recovery period. This shows that investment cash flow in the stock market is still ready to seek opportunities during deep down fluctuations.
While uncertain risk factors are still potential, the stock market also receives long-term supporting foundation factors, such as the Government's support policies and the drastic goal of economic growth, the KRX system operates smoothly, creating a premise for the upgrading process.
Real estate, industrial parks, chemicals, oil and gas, and export groups had a lower recovery rate than the market in the last 3 weeks of April.
Experts from the analysis department of SSI Securities Company (SSI Research) believe that stocks of export industry groups, especially stocks in the mid-cap basket (VNMidcap) will bring many opportunities in the short term when the tariff negotiation process shows positive signals.
On the contrary, the adjustment fluctuations when negotiating tariffs are not as positive as expected will continue to be a good opportunity to gradually accumulate stocks in industries less directly affected.
Regarding technical analysis, SSI Research forecasts that the VN-Index will break through the 1,250-point area, while the medium-term trend will consolidate more firmly with the next target around 1,280 - 1,300 points. In contrast, the 1,180 - 1,200 point area currently plays a technical support role in short-term adjustments.
