As predicted by analysts, the stock market has returned to the "race" after having a necessary break to accumulate. Leading the wave this time is the group of "king" stocks. The banking industry and securities companies continuously have supporting information when the State Bank allows some banks to reduce the reserve requirement rate by 50%, or about piloting the implementation of digital asset trading floors.
Along with the strength of strong cash flow, the excitement of FOMO by investors, financial sector stocks have quickly returned to support the market to accelerate in today's session, August 19.
Under the leadership of VPB shares early, as well as the cash flow spread in the real estate group, construction has prompted VN-Index to increase beyond the resistance of 1,650 points. At the end of the trading session, the VN-Index increased by 17.83 points (+1.09%), to 1,654.2 points. The total trading volume reached more than 1.9 billion units, worth VND54.404.5 billion.
VPB Bank shares are still the main highlight when increasing the most in the group and leading the increase in the VN30 basket and being the largest contributor to the VN-Index with more than 4 positive points. Accordingly, VPB maintained the ceiling price at VND34,200, matched orders of more than 21.6 million units and had a surplus to buy a ceiling price of nearly 12 million units.
Other bank codes also flooded and increased sharply such as HDB and LPB with an increase near the ceiling, ending the session at 32,500 VND and 42,800 VND respectively. In total, the above banking codes along with VPB contributed nearly 12 points to the VN-Index in today's session.
In contrast to the positive developments of the general market, foreign investors sold VND 1,518 billion in a strong net sell in today's session, continuing a series of 9 consecutive net selling sessions. On HoSE alone, foreign investors have net sold more than VND 1,490 billion.
In the newly published strategy report, Agriseco Securities expects the total market profit in 2025 to grow by about 20% compared to 2024. Agriseco Research forecasts that the VN-Index will aim for the 1,700-1,750-point area by the end of 2025 based on the growth of the whole market profit in 2025 at about 20%. Reasonable P/E valuation 15 times.
In addition, favorable factors will continue to support the market's upward momentum, such as the possibility of the FED starting the process of lowering interest rates from September 2025. In the country, the Government is determined to increase economic growth with a target of 8.3%-85% this year as well as many moves to promote credit growth, boost finances, disburse public investment and aim to upgrade the market.
Maybank Investment Bank (MSVN) also forecasts stable profit growth and abundant liquidity to continue supporting the market, while raising the VN Index target by 20% to 1,800 points by the end of 2025.
The basis for MSVN to make this assessment is based on the main important factor of the whole market profit reaching 34% over the same period, thanks to strong growth in most industry groups. The most prominent is aviation logistics (up 152%) thanks to the explosion of tourism. Next are the sectors that benefit from infrastructure investment such as steel (up 26%), real estate (up 64%) driven by the Government's public investment policy. This policy also supports bank credit growth (up 19%).
The next factor is that the Government is determined to aim for the GDP growth target of 8% through proactive fiscal measures. Domestic deposit interest rates are forecast to increase by 50 basis points due to increased capital mobilization demand, but the State Bank is likely to maintain monetary easing policy if the Fed continues to cut interest rates.
