At the end of the trading session on January 8, VN-Index increased by 4.07 points (0.33%), to 1,251.02 points; HNX-Index increased by 0.89 points (0.4%), to 221.87 points. The overall market breadth was somewhat inclined towards green with 410 stocks increasing on the buying side and 277 stocks decreasing on the selling side. Green was somewhat dominant in the VN30 basket with 17 stocks increasing, 7 stocks decreasing and 6 stocks remaining unchanged.
Market liquidity decreased compared to the previous trading session, with the trading volume of VN-Index reaching more than 367 million shares, equivalent to a value of more than VND 8.5 trillion; HNX-Index reaching more than 37.1 million shares, equivalent to a value of more than VND 598 billion.
Experts assess that the VN-Index's upward trend is still positive, with an increasingly narrowing range of fluctuations, supported by a series of positive information related to the macro policies of a new growth era that awaits. Although the DXY index has increased sharply, the USD/VND exchange rate is still being stabilized by the State Bank around 25,450 VND/USD in the context of being supported by the year-end remittance flow.
As the strong support zone at 1,250 - 1,260 points is being tested, short-term trend warnings require further observation.
In the positive scenario, the signals of consensus or gradual differentiation and bottoming of large-cap stocks will also be early hints for the end of this correction. From a technical perspective, most pillar stocks are quickly returning to strong short-term support zones after the decline in the session on January 3, so a "resistance" state may soon appear in the coming sessions, thereby significantly supporting the market index.
Stock groups with good momentum, a stable growth structure, a tight short-term price base and attractive upside potential are the qualities that make up a potential stock in the future. The 2024 earnings season is about to enter a vibrant phase, promising to create positive breakthroughs for businesses with good fundamentals.
A report recently released by MBS Research forecasts that the entire stock market's profit in the fourth quarter of 2024 will grow by 25% compared to the same period in 2023, the highest quarterly profit since the second quarter of 2022. The entire market's profit in 2024 could reach an increase of 18% compared to 2023, marking the beginning of a period of recovery and growth. MBS Research expects that the positive profit growth in the fourth quarter and the whole year of 2024 will create the premise for listed enterprises in particular and the stock market in general to make a breakthrough in 2025.
Another driving force expected to become the “explosion point” of the Vietnamese stock market in 2025 is the opportunity to upgrade the market from frontier to emerging at the end of the year. Economists say that in order to be upgraded by the end of the year, which means strongly attracting international capital flows, Vietnam needs to continue to improve transparency, liquidity and legal infrastructure in the securities sector.
Dr. Nguyen Duy Phuong, Investment Director of DG Capital, said that selling pressure is reaching its peak, so sell-off activities should consider choosing times when the market recovers or at least technical recovery sessions of stocks to restructure the proportion. New buying positions are facing favorable disbursement opportunities when prices are experiencing strong discounts.
“2025 will be a positive year for the stock market. In the given scenario, the VN Index will increase from 1,400 points to 1,420 points. However, investors must still follow the rule of identifying possible risks in the positive scenario. In terms of opportunities, if we look at 2025, the possibility of a strong increase will be greater than the possibility of a strong decrease,” Dr. Phuong stated his opinion.
