In yesterday's trading session, March 4, the market still maintained a good increase to 1,311 points, the highest since May 2022. The highlight is the massive cash flow flow pushing market liquidity up dramatically with trading volume exceeding 1.06 billion shares.
The value of matched orders on HOSE also reached over VND 20,071 billion, the first matching session exceeding VND 20,000 billion since the beginning of October 2024 and is also the highest level in the past 5 months.
If including all three exchanges, the whole market recorded liquidity of VND 25,300 billion (equivalent to USD 1 billion). This is also the session marking the return of billion-dollar liquidity that has been absent for a long time.
Meanwhile, foreign investors still maintain a fairly strong net selling momentum. In February 2025, foreign investors net sold nearly VND9.6 trillion on HOSE. There were 2 stocks that were net sold with a scale of thousands of billions, including FPT with more than 1.3 trillion VND and VNM with more than 1.1 trillion VND. The net purchase price did not appear any stocks purchased with a value of thousands of billions.
Thus, after selling a record net of more than VND90 trillion in 2024, foreign investors continued to do this in the first 2 months of 2025, accumulating nearly VND16.1 trillion.
However, the positive point with the role of the domestic market continued to be shown, the index had a breakthrough of 1,300 points. The strong cash flow during this period may show investors' expectations for the upcoming uptrend.
Assessing the trend, experts from Dragon Capital said that the current economic context of Vietnam has many factors that positively support the stock market.
The first is a loose monetary policy. The government is stepping up interest rate cuts to stimulate growth. Reduced interest rates will help businesses reduce interest costs, contributing to improving profits. The low interest rate environment also indirectly makes stock market valuations more attractive.
Second is to accelerate public investment. This is one of the main growth drivers, which has been strongly implemented by the Government in key projects since the beginning of the year. Thirdly, the prospect of upgrading the market is becoming increasingly clear.
The efforts of the management agency to meet the final upgrading criteria are being highly appreciated by foreign organizations. The KRX system is expected to be deployed in the second quarter, paving the way for the possibility of upgrading the market in September. This can attract foreign capital back.
With a policy foundation strongly promoted and strong commitments from the Government, and a significant recovery in business confidence, Dragon Capital believes that this is a favorable premise for the market to break out in 2025 and the coming years.
Although global trade policies can cause short-term fluctuations, when the domestic economy is strong, external variables are only temporary, not changing the growth trend of the market.
Compared to the period of trade tensions in 2018, when risks increased by high valuations and new listings, Dragon Capital said that the current market has largely reflected existing instability.
