The market continued to maintain a fairly good increase and the VN-Index surpassed its all-time peak thanks to the vibrant cash flow. According to trading statistics on the HOSE floor last week, the VN-Index had 4 increasing sessions and 1 decreasing session. At the end of the trading week, the VN-Index increased by 33.85 points, equivalent to an increase of 2.26% to 1,531.13 points.
In addition to the strong increase and breaking the historical peak in scores, the market also exploded in liquidity with the total trading value calculated last week on the HOSE reaching VND 181,555 billion, up 6.44% compared to the previous week, equivalent to an average of 36,311 million units/session.
However, during a flourishing market week, foreign investors shifted to net selling nearly VND 2,000 billion due to a breakthrough from a large-scale deal. Notably, VPB bank shares were disbursed strongly, with the total net buying value for 2 consecutive weeks reaching more than 1,300 billion VND.
According to experts, the recent increase of the Vietnamese stock market is driven by a series of positive factors. Macro news creates positive expectations for exports and investment flows.
Along with that, the expectation of Vietnam being upgraded to emerging market status by FTSE in September this year is becoming increasingly clear, thanks to the strong progress of trading system modernization. Reforms in market infrastructure and legal corridors continue to strengthen the prospect of upgrading.
In the report assessing the outlook for the stock market at the end of the year, experts from Pyn Elite Fund said that the VN-Index has surpassed the important milestone of 1,500 points and foreign investors have returned to net buying, contributing significantly to the positive trend of the general market. Although capital flows have remained in a state of accumulated net selling since the beginning of the year, with a low valuation level, a positive investor sentiment and a solid foundation, experts from this fund are confident that the market can continue the upward trend in the coming time.
In particular, experts from Pyn Elite Fund believe that the scenario of VN-Index reaching the 1,800-point mark by the end of 2025 is not unrealistic. However, investors still need to pay attention to the possibility of technical adjustments due to short-term profit-taking activities from domestic investors.
From a more cautious perspective, Dr. Nguyen Duy Phuong, Investment Director of DG Capital, expressed the view that the VN-Index has approached the short-term resistance zone, increasing the risk of technical adjustment. In that context, the excitement of domestic investors may face strong fluctuations, especially if foreign cash flow shows signs of slowing down.
The current net buying trend of foreign investors is a combination of short-term disbursement strategies and medium-term expectations, but has not yet formed a large enough sustainable driving force to create a new "waves". This requires investors to monitor more signals from the upgrade policy, more open net buying activities from ETFs, as well as the spread of cash flow to other industry groups in the coming time.
