The market continues to conquer new milestones
The Vietnamese stock market has just ended September with impressive trading sessions. VN-Index has continuously conquered new milestones, officially surpassing the historical peak of 1,700 points at the beginning of the month.
Along with that, liquidity in the market also exploded, many trading sessions reached VND70,000 - 80,000 billion, showing that cash flow is returning strongly. On that platform, optimism spreads rapidly, individual and institutional investors simultaneously increase disbursement, creating a vibrant atmosphere in the market.
Mr. Nguyen Thanh Chung (39 years old, Hanoi) - an investor who joined the market in 2021 - shared that after a long period of losses in 2022-2023, he had withdrawn almost all of his capital. I have returned to investing more strongly since June, and now I see that decision is correct. I believe that the market will continue to move up, especially because the upgrading target is approaching and macro information is all positive," said Mr. Chung.
Meanwhile, Mr. Nguyen Thanh Tung (43 years old, a long-time investor in Hanoi) said: "What I feel confident about this year. Last year, everyone was afraid of risks, liquidity was sluggish, many sessions only traded around 15,000 - 17,000 billion VND. Now, the daily cash flow is more than 30,000 - 35,000 billion VND. The trend is clearly on the rise and I also expect a new peak to appear soon.
Strong cash flow, IPO creates attractive commodity sources
Notably, recently the market has also opened up many new expectations from famous IPO deals. The Technology Exchange (TCBS) has implemented IPO and has registered to buy 2.5 times the selling volume, showing great potential. VPBankS has also just announced the offering of 375 million shares to the public at a price of VND 33,900/share. Hoa Phat Group has also submitted an IPO dossier for a subsidiary in the agricultural sector to the State Securities Commission.
Securities companies said that recent IPO activities have added a source of quality goods to the market, creating more attractive options for investors, especially those who are interested in looking for "rookie stocks" with long-term growth potential.
Commenting on market developments, Mr. Le Duc Khanh - Director of VPS Securities Analysis - said that the market is currently in an uptrend cycle and there is still much room for development until the end of 2025 and 2026.
According to Mr. Khanh, the most prominent point this year is the liquidity explosion. Many trading sessions on HOSE reached a value of VND70,000 - 80,000 billion, equivalent to USD2 - 3 billion, a rare figure in history. This huge liquidity reflects the strong return of domestic cash flow, and at the same time shows the increasing interest from institutional and international investors, which has been aroused by efforts to upgrade the market," said Mr. Le Duc Khanh.
VN-Index may move up to 2,000 - 2,100 points
Mr. Khanh emphasized that 2025 is special as the market's attraction comes from the convergence of many factors: Economic growth prospects, upgrading expectations, and room for personal capital expansion are still very large. Technically, after the VN-Index surpassed the 1,520-point threshold - the peak in 2022 - the market is currently heading towards the 1,800-point mark. In a major uptrend, the market often has many months of long-term breakouts, interspersed with short-term adjustments.
"Opportunities from now until 2026 will belong to stocks that have not increased much, still have attractive valuations and clear profit prospects. From the end of September and into the fourth quarter, the selection factor will become increasingly important. Investors should focus on enterprises with good foundations, not fully reflecting growth momentum" - Mr. Khanh recommended.
From another perspective, according to Ms. Do Minh Trang, Director of Market Analysis and Strategy, ACB Securities (ACBS), 2025 is a pivotal year for the Vietnamese economy and stock market.
Ms. Trang predicts that with a scenario of many positive factors, investors can completely expect stronger increases in the next 6 months. VN-Index may move up to 2,000 - 2,100 points if the valuation is extended by one more standard deviation. She emphasized that the main driving force for the second half of the year comes from four industry groups: Banking, real estate, public investment - construction materials and retail.
