The fact that the VN-Index still maintains a solid support of 1,600 points shows that the market is accumulating for the next increase. Recent adjustment sessions have been largely due to short-term profit-taking pressure. Although foreign investors are selling strongly, the impact is only enough to shake the market slightly.
Market liquidity also showed a clear change, from 20 - 25 trillion VND/session at the beginning of the year, now it has doubled to 40 - 45 trillion VND, sometimes even higher. This reflects the strong participation of new cash flow, which is a factor supporting continued upward waves.
In addition to the technical story, expectations about the Fed deciding to lower interest rates in September, FTSE Russell deciding to upgrade the Vietnamese market on October 7, combined with positive expectations from the business results of the third quarter of 2025, show that this is now an important period to select stocks at good prices. Since the bottom of April, the VN-Index has only gone half the way to increase points.
Commenting on the long-term trend, experts predict that the increase will continue, in the context of global central banks loosening policies, while the domestic sector also benefits from monetary policy, macro and business results.
However, experts also recommend that when the market is bustling, investors are often caught up in market trends, which is the "FOMO trap" - the fear of being missed. That can be demonstrated through the race to buy stocks when prices increase sharply and the race to sell stocks when prices decrease, two actions, although in the opposite direction, are both motivated by the fear of being left behind or suffering losses.
In the context that the VN-Index has reached an important resistance level and can be adjusted at any time, Mr. Tran Hoang Son - Director of VPBank Securities Market Strategy (VPBankS) said that many investors are likely to fall into the above "trap".
According to this expert, investors can easily avoid the FOMO trap by filtering basic stocks. First, to select stable profit growth, investors should filter for stocks with EPS growth of 15 - 20% or more compared to the same period last year, ROE must be at least over 15%. Debt/equity of owners should be below 1 time, ensuring to find stocks with low debt and effective operations.
Regarding valuation, investors need to find businesses with P/E below 15 times (in line with the VN-Index). Prioritize industry groups that benefit from monetary policy, macro, public investment ... for selection and disbursement. When the market adjusts by 5%, strong stocks will adjust less or equal to the market.
For stocks with higher beta and stronger movement than VN-Index, when the index increases by 1%, stocks can increase by 2%; but when VN-Index decreases by 5%, stocks can lose 15 - 20%. Therefore, a good price foundation is very important in the current product selection period.
Regarding the story of choosing which group of stocks to "choose to deposit gold", Dr. Nguyen Duy Phuong, Director of Strategic Investment of DG Capital, analyzed that in the trading sessions at the end of last week, the group of stocks related to public investment is attracting cash flow after information about promoting public investment disbursement in the last months of the year.
This group may continue to do well and attract cash flow next week. Leading groups in the strong increase of the market in July and August include banks, securities, and real estate, which are showing signs of slowing down after previously increasing prices strongly.
However, Dr. Phuong believes that this is just a healthy correction to help stocks of these groups balance again after a period of hot increase. And this may still be the group leading the market in the next increase after accumulation and balance is restored. In addition, cash flow in the coming period may also spread to bluechips stocks with clear profit growth prospects in industry groups such as steel, retail, etc.
