Stocks last week ended a series of consecutive increases - Photo: HA QUAN
At the end of the weekend session, the index closed at 1,495.21 points, down 35.92 points (equivalent to -2.35%) compared to the previous week, marking the first week of adjustment since mid-June.
Average stock liquidity hits record high
Despite the market correction, liquidity continued to explode. The average matched transaction value on the HoSE floor reached VND46,322 billion/day, up 36.5% compared to the previous week, and is a record high to date.
Notably, foreign investors have reversed their net selling trend to the strongest level in the past 17 weeks, focusing on industry groups that have a large impact on the VN-Index such as information technology, steel, securities, retail and banking.
The fact that the index quickly lost the 1,500-point mark just one week after surpassing this threshold partly reflects investors' cautious sentiment, especially in the context of a lack of clear supporting information from macro factors and the fact that second-quarter business results are being differentiated by industry.
Ms. Nguyen Phuong Nga - analyst at Vietcombank Securities (VCBS) - commented that the market has just experienced a week of strong fluctuations and is in the process of balancing and accumulating momentum.
"The positive point is that cash flow still shows signs of disbursement, although there is differentiation between separate industry groups/stocks with their own stories or recording positive second-quarter business results," said Ms. Nga.
However, there is no consensus among large-cap stocks, so the risk of fluctuations and adjustments still exists.
With the current developments, VCBS experts recommend that investors should maintain a safe margin ratio, continue to hold stocks showing signs of recovery from the support zone, and consider increasing the proportion during market fluctuations.
In addition, investors with a high cash ratio can follow speculative cash flows and partially disburse into stocks that are attracting demand and still have room to increase compared to the nearest resistance zones.
The market is "waiting" for the actual impact of new tax policies coming into effect.
Meanwhile, Mr. Phan Tan Nhat - head of analysis at Saigon - Hanoi Securities (SHS) - commented that the short-term trend of VN-Index still maintains its upward momentum above the support zone of 1,480 points, with the psychological resistance level at 1,500 points.
"VN-Index will end its uptrend if it fails to maintain the support zone around 1,480 points," Mr. Nhat predicted.
Regarding the VN30 index, Mr. Nhat said that this group is under pressure to retest the historical peak in 2021, fluctuating between 1,540 - 1,590 points.
He also believes that the market has closed the period of receiving business results in the second quarter of 2025, and may enter an accumulation or adjustment cycle after a period of strong price increases. In the short term, the market is gradually coming to the end of a long-term growth cycle.
Entering August 2025, the market fell into a period of information void after announcing the second quarter business results.
Market and business assessments will depend more on growth prospects in the second half of the year, along with the actual impact from new tax policies that have just taken effect, SHS experts said.
Therefore, the market is forecast to continue to be strongly differentiated, needing time to establish a new balance after a period of overheating thanks to the second quarter business results exceeding expectations and the time to temporarily suspend tariff policies.
SHS recommends that investors maintain a reasonable portfolio weight, prioritizing stocks with good fundamentals, leading in strategic sectors and benefiting from long-term economic growth.
According to the Ministry of Industry and Trade, in the early morning of August 1 (Vietnam time), the White House posted President Donald Trump's decree on adjusting reciprocal tax rates, according to which the US decided to adjust the reciprocal tax rates for 69 countries and territories listed in Appendix I. According to this appendix, the reciprocal tax rate for Vietnam is reduced from 46% to 20%.
Source: https://tuoitre.vn/chung-khoan-cham-dut-chuoi-tang-tuan-moi-ra-sao-khi-co-chinh-sach-thue-moi-20250803115305602.htm
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