Market fluctuations in August
Entering August, the Vietnamese stock market continued to maintain its upward momentum in the context of strong domestic cash flow and increasingly excited investor sentiment. Although the month recorded some notable fluctuations, the main trend still tended to be positive.
Previously, at the end of July, the VN-Index set a new historical peak when it conquered important milestones of 1,552 points, 1,557 points and reached 1,600 points in early August 2025. On that momentum, the index continued to consolidate the recovery trend formed from the end of June and maintained a stable increase.
By mid-August, the VN-Index had broken through the 1,640-point mark, affirming the strength of the uptrend. Along with that, market liquidity has continuously improved, the average transaction value has increased sharply. According to statistics, liquidity in August remained around 47,000 billion VND/session, showing the great interest of investors in the stock market. The highlight is that this cash flow is not dispersed, but focuses mainly on leading stocks, which are large-cap stocks, capable of directly affecting VN-Index such as banking, securities, real estate, or construction and construction.
However, after a series of persistent increases since the end of July, the VN-Index approached the psychological resistance zone around 1,700 points in mid-August. At this threshold, profit-taking pressure appeared, causing the index to fluctuate and record some adjustments in the last sessions of the month. Notably, in the trading session on August 26, the VN-Index increased sharply after two sessions under adjustment pressure, with an increase of +53.6 points, closing at 1,667.63 points. Liquidity remains high, reflecting that cash flow is still entering the market strongly and market confidence continues to be consolidated, despite short-term fluctuations.
At the end of August, the VN-Index stopped at 1,682.21 points, up nearly 180 points compared to the end of the previous month. Thus, the index approaching the psychological resistance level of 1,700 points shows that the market has entered the "fire-tests" phase, when profit-taking pressure increased. In that context, cash flow needs to be maintained sustainably to be able to help the VN-Index successfully conquer this important resistance level.
Forecast of market developments in September
Entering September, the Vietnamese stock market is expected to continue to maintain an upward trend, with the possibility of fluctuating in the range of 1,700 - 1,800 points. Growth may be accompanied by alternating fluctuations and technical adjustments, but this is considered a normal development in a sustainable uptrend. In particular, the 1,640 point area still plays a strong support role, a reliable support when the market adjusts. Liquidity is likely to remain at a positive level, thereby affirming that domestic cash flow continues to play a pivotal role in supporting the general trend.
From an industry perspective, many stock groups promise to be the focus in September. The securities group is forecast to benefit directly from abundant liquidity and the excitement spreading in the market. The group of steel (HPG, HSG, NKG, ...) and chemicals (DDV, DGC, ...) has the opportunity to recover thanks to domestic consumption prospects and favorable commodity price trends. Seaports (GMD, VSC, ...) continue to record positive prospects when import-export activities maintain stable growth, while construction - installation (CTD, HHV, C4G, ...) can be promoted thanks to public investment capital. In particular, oil and gas (PVD, GAS, BSR, ...) have emerged as an important highlight thanks to oil prices remaining high and the prospect of investment in energy infrastructure becoming increasingly clear.
On that basis, investors need to be flexible and selective in their investment strategy in September. With a long-term vision, investors should focus on good core stocks with attractive valuations and clear growth space. However, short-term trading can be implemented to restructure the portfolio, especially when holding a large proportion of stocks, thereby optimizing efficiency in the context of a market with many opportunities.
In general, September is not only a testing period at an important resistance level, but also opens up opportunities for investors to restructure their portfolios, taking the lead in leading and effectively exploiting vibrant cash flow, thereby turning "fire test" into "brilliant investment point".
