The stock market on the morning of July 7 traded well with the bright spot being banking stocks, helping the VN-Index have another good increase session, approaching the strong resistance level of 1,400 points.
Investor sentiment is still excited after the positive tariff information last weekend, which helped the market open the first morning of the week and was filled with green.
The bustling cash flow with the pillars of banking and securities is leading the market, helping the general index maintain a good increase. The focus of the market is on "vested" bank stocks.
In particular, the pair SHB and VIX have made breakthrough transactions, especially SHB is currently matching orders of more than 95 million units and foreign investors have also net bought more than 24.5 million units. The improved liquidity helped the market continue to expand the increase range towards the end of the session, however, the VN-Index has not been able to conquer the peak of 1,400 points.
At the end of this morning's session, on the HOSE floor, there were 208 stocks increasing and 98 stocks decreasing. The VN-Index increased by 11.03 points to 1,398 points. The total trading volume reached nearly 677 million units, worth VND 14,222 billion.
Foreign investors continue to net buy at VND573 billion on all three exchanges, with buying power mainly concentrated in SHB with a value of VND425.64 billion, far exceeding the remaining stocks. Meanwhile, leading the net seller is GEX with a value of VND 129.62 billion.
The VN30 group improved with 25 stocks increasing and only 5 stocks decreasing, at the end of the session, the index of this group increased by more than 14 points. In terms of industry groups, banking stocks are the main driving force of the market when green spreads throughout the industry and the top 10 stocks contributing the most to the general index have up to 8 bank stocks present. The securities group is also among the top with strong increases in the market.
In the latest report, Vietcombank Securities Company (VCBS) stated that the VN-Index is being valued at the same level as the regional average. Accordingly, the analysis team estimated that Vietnam's P/E will fluctuate in the 13.9x - 15.3x range in 2025.
In the base scenario, the VN-Index is forecast to reach 1,555 points. In a positive scenario, the index could reach 1,663 points with the expectation of upgrading the market, strong and drastic policies to boost growth and further positive diplomatic advances.
Some other factors contributing to liquidity include being upgraded to Emerging Market by FTSE. The Vietnamese stock market may welcome net foreign cash flow of up to 1.3 - 1.5 billion USD in the third quarter of 2025. Including 950 million USD from passive ETF funds simulating according to the FTSE Emerging Markets Index basket and the capitalization ratio of the Vietnamese market is 0.94%.
VCBS expects a reversal in the trading trend of foreign investors, shifting the state from strong net selling to net buying when Vietnam is upgraded by FTSE. In addition, the loose trend and the relative weakness of the USD may reduce the process of net withdrawals and counterpart taxes at low levels, making Vietnam an attractive investment destination compared to the region.
