Vietnam's stock market has had an impressive trading week of the New Year.
Despite the adjustment pressure in the first session of the week, the Cau Cau quickly returned, helping VN-Index have 4 consecutive gaining sessions, advancing to the old peak of 1,275 points.
In addition, the market liquidity after holiday also improved significantly, exceeding the average trading rate of 20 weeks after a series of 9 weeks continuously below this threshold. In terms of liquidity, the total trading value last week increased by 19.14% compared to the previous week, to 70,248 billion dong.
However, the long net selling momentum of foreign investors is still a factor to pay attention in the context of the global market facing a lot of fluctuations.
Although the market has prospered more, foreign investors are still hard at net selling with net selling value in the first week of February reaching nearly VND 3,500 billion, in which the focus is MSN and VNM shares .
Statistics on HOSE, foreign investors net sold for 5 consecutive sessions. In total, this block net sold 90.34 million units, total net selling value corresponding to 3,501.94 billion dong, while the week before the Tet holiday net bought 20.76 million units, the total net buying value reached VND 120.38 billion.
On HNX, foreign investors bought 3 sessions and sold 2 sessions. A total of the week, this block net bought 9.02 million units, the total value of net buying corresponding to 92.76 billion dong, increasing sharply compared to the previous week, only less than half a million units, buying value net 27.93 billion.
Looking back on January 2025, the liquidity story of the market is still what many experts are interested in.
In January 2025, the stock market was somewhat quiet. The average trading volume of HOSE is only over 11 trillion dong/session, down 22% compared to the previous month and 32% over the same period.
According to data from Vietnam Securities Payment and Clearing Corporation (VSDC), until January 31, 2025, Vietnam's stock market has a total of more than 9.37 million accounts. Compared to December 2024, an increase of 80.7 thousand accounts.
The new account amount decreased by nearly 43% compared to December 2024.
This is also the lowest level in the past 1 year. On average, in 2024, the new open account reached more than 167 thousand accounts per month.
The main contribution to the new open account in January 2025 is still domestic individual investors, accounting for more than 99.7%.
In the context of foreign capital flows with more than $ 4 billion from the Vietnamese stock market in the past 2 years, due to the impact of the USD price and the US government bond yields maintained at a high level of over 4.6. % with a 10 -year term, still posing a big challenge.
The quantitative tightening policy of the Fed, with the sale of financial instruments to suck the cash flow to the United States, causing the net selling pressure of foreign investors to end.
According to experts, the Fed can stop the tightening policy around the end of March 3.2025 or by June 6.2025, depending on the intrinsic economic development of the United States.
Dr. Nguyen Duy Phuong, Director of DG Capital's strategic investment, said that foreign capital flows will likely return to emerging markets, including Vietnam.
The return of foreign capital flows, combined with the market upgrade - is expected to take place at the end of the third quarter or the beginning of the fourth quarter/2025 will create a positive motivation for the Vietnamese stock market.
However, in order for the market to really break through, the return of foreign capital flows is a key factor, because the domestic cash flow is currently lacking new motivation, with the liquidity in the market has fallen into a relatively dry state. Kiet.
