The stock market in week 12-16.5 recorded consecutive sessions of increase from the 1,270 zone to nearly 1,320 at the beginning of the week. The group of large-cap stocks, led by banks, is the main driving force for the overall score.
The highlight of the week was that VPL - Vinpearl shares were officially listed on the HoSE and immediately had 3 consecutive ceiling increases. However, selling pressure at high prices caused the VN-Index to reverse and adjust in the last two sessions of the week.
At the end of the week, VN Index increased by 34.09 points (+2.69%) compared to the previous week to 1,301.39. Liquidity is bustling, for the whole week, the total trading value on the HOSE floor reached VND 119,505 billion, up 39.25% over the previous week.
On the foreign side, this group suddenly reversed to net buy strongly in many sessions, especially the mid-week session of May 14 with a total net value of nearly 2,200 billion. After a total of 5 sessions, foreign investors net bought VND2,871 billion in the whole market, marking the third week in 2025 for foreign investors to net buy Vietnamese stocks.
According to statistics from stock codes, in the last trading week, foreign investors recorded a positive trading trend in many banking and retail stocks. Leading the net buy side was MBB with a value of VND 1,090.2 billion. MWG and FPT stocks ranked second and third respectively with net purchases of VND 884.5 billion and VND 875.6 billion.
On the other hand, VHM was the focus of net selling with a value of VND 1,084.6 billion, the highest of the week. Followed by VCB (676.8 billion VND) and VRE (382.5 billion VND), showing that the pressure of selling goods in the real estate group has not cooled down.
Assessing the factors affecting the stock market, Dragon Capital Securities Company (VDSC) said that the event of the KRX system coming into operation in early May marked a new step in market development. VDSC believes that the event is not only a technical milestone but also a strategic step forward, helping Vietnam improve the quality of market infrastructure, towards international standards and meeting the conditions for upgrading in 2025.
Regarding the business prospect of the business, the tariff factor affecting the growth of profit in 2025 is not large. In the second quarter of 2025, VDSC estimated that the business results of the whole market grew 14% compared to the same period last year, in which, the real estate group will be the main factor leading the growth rhythm thanks to the low background of the same period. Meanwhile, non -financial groups and banking groups decelerate, in turn impacted by the factor of consumer production beliefs slowed down and NIM is affected.
According to VDSC, the current market valuation is suitable for long-term stock accumulation. However, in order to deal with increasing uncertainty and potential economic risks, VDSC believes that the defensive portfolio allocation strategy will be suitable for the current period.
In addition, risk identification early and during market adjustments, ready to seize opportunities can be considered when the market adjusts. At that time, increasing the proportion of investment opportunities with attractive risk-adjusted profits will help the portfolio's investment performance improve significantly in the long term.
In the short term, the transaction will still be favorable, reinforced by positive business results and good liquidity. However, investors also need to pay attention to the unexpected risks from the results of tariff negotiations. Regarding investment ideas, investors continue to strengthen their defensive position with stocks that benefit from economic trends, have a healthy financial situation and have limited impact of tariffs, VDSC's report stated.
