Policy platform to strengthen stock market prospects
The second half of 2026 is expected to be a period when the stock market benefits from a series of policies to support economic growth, promote capital flows and improve liquidity. In the context of expanding investment opportunities, optimizing capital usage costs has also become a concern for many investors.
Stepping into the last 6 months of the year, the Government continues to firmly aim for GDP growth of about 10% for the whole year. To realize this goal, many policies on monetary, credit, fiscal, public investment and foreign investment attraction are being implemented synchronously, creating more momentum for the economy and the capital market.
Mr. Dinh Minh Tri, Director of Personal Customer Analysis, Mirae Asset Securities Joint Stock Company (Vietnam) said that to achieve the GDP growth target of about 10%, the economy needs to maintain a significantly higher growth rate in the second half of the year. This is also the basis for the Government to continuously issue many policies to unlock capital flows and support production and business activities.
In which, monetary policy is considered one of the most important drivers. According to Mr. Tri, increasing the ratio of short-term capital for medium and long-term loans to 40% and adjusting the ratio of outstanding loans to deposits (LDR) helps banks have more room to expand credit, while reducing capital cost pressure.
Credit continues to be oriented towards priority areas such as infrastructure, industrial parks and social housing. The exclusion of the additional outstanding debt of social housing, industrial parks and export processing zones from the real estate credit growth limit is expected to contribute to removing capital bottlenecks for many projects.
From a fiscal perspective, policies to extend taxes, land rents, promote public investment disbursement and increase the base salary from July 1 are expected to stimulate aggregate demand, support consumption and create more momentum for economic growth.
According to Mr. Dinh Minh Tri, the foreign-invested economic development strategy according to Resolution No. 10-NQ/TW also marks a shift from the goal of attracting FDI in quantity to improving the quality of capital flows, prioritizing high-tech fields such as semiconductors, artificial intelligence (AI), biotechnology and high value-added industries.
In addition, the market upgrade roadmap according to FTSE Russell continues to be one of the factors closely monitored by investors. If carried out as planned, this process is expected to contribute to attracting more foreign capital and improving liquidity for the stock market.
Many industry groups are expected to benefit
In the context of policies starting to become effective, many industry groups are expected to benefit at different levels, depending on the time capital flows into the economy.
In the early stages, the most clearly benefited groups are banks, industrial park real estate and infrastructure construction. These are sectors directly affected by monetary easing policies, credit expansion and promotion of public investment.
According to Mr. Dinh Minh Tri, the banking group benefited when system liquidity improved and capital costs decreased. Meanwhile, industrial park real estate continued to have positive prospects thanks to the trend of attracting high-quality FDI and policies to remove credit for industrial parks and social housing.
As long-term capital gradually seeps into the economy, Mirae Asset expects the securities, technology, steel, construction materials, consumer and retail groups to enter a stronger growth phase.
For the securities industry, Mr. Dinh Minh Tri believes that improved liquidity and the expectation of market upgrades will create favorable conditions for brokerage, investment banking (IB) and margin lending activities.
Use financial leverage at a reasonable cost
In the context of expanding investment opportunities, the need to use financial leverage at reasonable costs is also of interest to many investors in order to improve capital efficiency.
Welcoming new market opportunities in the second half of 2026, from May 1st to July 31st, 2026, Mirae Asset Securities Joint Stock Company (Vietnam) is implementing the program "Marching 6.99% - Super profitable interest rate, Invest more profit" with many outstanding incentives for customers opening new securities accounts.
The highlight of the program is the preferential margin interest rate of only 6.99%/year, applied to margin trading accounts (sub-account M1). In addition, customers are granted a loan limit of up to 500 million VND, while the total outstanding balance of the program reaches 100 billion VND at each time.
The program applies to customers who simultaneously open new securities accounts and margin trading accounts from May 1 to July 31, 2026. With competitive interest rates and attractive loan limits, Mirae Asset expects to bring effective financial solutions, helping investors proactively supplement capital sources and seize opportunities in the stock market.
