Stock market week 26 - 30/5: A series of businesses set dividend payment schedules, highest 88%

VN-Index increased for 3 consecutive weeks

VN-Index continued to aim for the highest price range in March 2025 before falling sharply after the US tax announcement and the adjustment pressure increased in the last sessions of the week. At the end of the week, VN-Index increased by +1.0% to 1,314.46 points.

This result was thanks to the positive recovery from the VN30 group, up 1.80% to 1,409.40 points, surpassing the 1,400 point zone, the highest price peak in March 2025.

Average weekly matched order liquidity continued to remain high, similar to the previous week and 25.9% higher than the 20-week average. Accumulated for the entire trading week, average liquidity on the HOSE floor reached 965 million shares, equivalent to a trading value of VND22,919 billion.

Due to the local increase in points from some pillar stocks, only 10/21 industry groups increased points, of which the 3 leading industry groups were: Real Estate leading with an increase of 12.56%, Aviation increased by 5.68% and Plastic increased by 1.99%. On the contrary, Telecommunications Technology decreased the most with 4.24%, followed by Chemicals (3.61%) and Industrial Park Real Estate (2.50%).

Foreign investors returned to net selling, reaching 561 billion VND. The focus was on stocks such as: VHM (Vinhomes, HOSE) with 1,176 billion VND, FPT (FPT, HOSE) with 678 billion VND and VRE (Vincom Retails, HOSE) with 252 billion VND.

Removing more bottlenecks for upgrading the stock market

Recently, the State Bank of Vietnam (SBV) issued Circular No. 03/2025/TT-NHNN regulating the opening and use of Vietnamese Dong accounts for conducting foreign indirect investment activities. Circular No. 03/2025/TT-NHNN will take effect from June 16, 2025.

In addition, with the goal of upgrading the Vietnamese Stock Market, in the 9 groups of solutions and roadmap proposed by the State Securities Commission (SSC) in March 2025, to date, the management agency has implemented most of the solutions to realize the goal of upgrading the market.

Chứng khoán tuần 26 - 30/5: Loạt doanh nghiệp chốt lịch trả cổ tức, cao nhất 88%- Ảnh 1. — Positive signals from the State Bank, promoting stock market upgrading

Specifically, 7/9 solutions have been implemented with the group related to Circular 68 including (1) foreign room, (2) information disclosure, (3) NPF solution; policy solution group (4) establishing a dialogue group and (5) amending regulations on opening FII accounts; as well as technology infrastructure solution group (6) deploying KRX and (7) operating the electronic transaction system between securities companies and custodian banks (STP).

Based on this basis, the latest report of BSC Research states that Vietnam is gradually realizing solutions to get closer to the goal of upgrading.

At the same time, it is forecasted that Vietnam's stock market may be considered for inclusion in the MSCI watch list (Watch list in June 2025) and FTSE Russell will announce approval for upgrading in September this year.

List of stocks that benefit from a series of policies to "unlock" the market

BIDV Securities (BSC) has named more than 30 domestic enterprises that are expected to benefit from post-tariff economic stimulus packages and private economic development programs in line with Resolution 68-NQ/TW.

First is public investment and transport infrastructure , including: VHM (Vinhomes, HOSE), VIC (Vingroup, HOSE); HPG ( Hoa Phat , HOSE), CTD (Coteccons, HOSE), VCG (Vinaconex, HOSE), HHV (Deo Ca, HOSE); DPG (Dat Phuong, HOSE), TCH (Hoang Huy, HOSE), DXG (Dat Xanh, HOSE).

The second is energy and oil and gas with the restart and acceleration of energy - oil and gas projects such as Lot B - O Mon, LNG gas, gas electricity... The group of businesses benefiting are PVS (PTSC, HOSE), GAS (PV GAS, HOSE), PVB (PV Coating, HOSE).

Third is consumption and tourism thanks to policies to promote domestic consumption, exempt tourist visas and stimulate personal spending. Typical enterprises are FRT (FPT Retail, HOSE), MWG (Mobile World, HOSE), MSN (Masan, HOSE), ACV (Airports Corporation, HOSE), HVN (Vietnam Airlines, HOSE), VJC (Vietjet, HOSE), VRE (Vincom Retail, HOSE).

Fourth is private economy. with institutional policies thanks to strategic 'leverage' in creating a foundation for extensive institutional reform, paving the way for the private economic sector to develop into the main driving force of the economy, including: GEX (Gelex, HOSE), VIC (Vingroup, HOSE), VRE (Vincom Retail, HOSE), VHM (Vinhomes, HOSE).

Fifth, banks with loose monetary policy and priority credit promotion open up opportunities for commercial banks to increase credit growth, promote retail and support businesses, including: BID (BIDV, HOSE), CTG (VietinBank, HOSE), VCB (Vietcombank, HOSE), ACB (ACB, HOSE), HDB (HDBank, HOSE), MBB (MBBank, HOSE), TCB (Techcombank, HOSE), VPB (VPBank, HOSE).

Finally, the import industry from the US when taking advantage of incentives, reducing input costs: DBC (Dabaco, HOSE), BAF (BAF Agriculture, HOSE), GAS (PV Gas, HOSE), POW (Petroleum Power, HOSE), NT2 (Nhon Trach 2 Oil and Gas, HOSE).

Comments and recommendations

Mr. Nguyen Nhat Tan, investment consultant at Mirae Asset (Vietnam), assessed that the Vietnamese stock market is currently in a rebalancing phase, after a short recovery thanks to expectations from economic policies issued in the first quarter of 2025. However, since the beginning of May, liquidity has begun to decline again and many indices have fluctuated within a narrow range, reflecting that investors are in a cautious state.

The positive impacts from policies such as credit easing, reducing operating interest rates and boosting public investment have not yet really permeated into the business results of enterprises, especially in the real estate, construction and retail sectors. In addition, international macro factors are creating additional risk pressure, especially the return of US-China trade tensions with the imposition of two-way tariffs, threatening Vietnam's export prospects - which have been the pillar of growth for many years.

Chứng khoán tuần 26 - 30/5: Loạt doanh nghiệp chốt lịch trả cổ tức, cao nhất 88%- Ảnh 2. — Real estate is expected to have many policies to solve problems. Illustration photo

The market recorded a strong differentiation between industry groups. Banking and insurance remained stable thanks to favorable monetary policies. According to observations on media channels, the real estate group is gradually gaining attention again thanks to the safe stock purchase price range, and the removal policies are still being actively implemented such as Resolution 171/2024/QH15 removing the condition of "must have residential land" to help unblock stalled projects.

Based on the above, Mr. Nguyen Nhat Tan commented: Stocks with good potential for price increase : NVL (Novaland, HOSE) with a story of rebirth, actively supported by the government recently, HDG (Ha Do, HOSE) with the golden period of land fund.

SHS Securities believes that the market is recovering to the price range before the tariff announcement. Regardless of the outcome of trade negotiations, new tariffs will be imposed, affecting the macro balances and production and business activities of enterprises. The market is quite diversified, notably in real estate, electricity, ports, fertilizers, construction and plastics stocks. On the contrary, technology - telecommunications, industrial parks, securities and seafood groups are under adjustment pressure after a period of good recovery.

Although many stocks still have relatively reasonable prices compared to fundamental factors, the index has returned to the old peak of 1,320 - 1,340 points, this is not an attractive price range for further disbursement. Investors who want to disburse need to choose carefully, based on growth prospects.

Sharing the same view, BETA Securities recommends that investors should prioritize accumulating good fundamental stocks that have not increased too much during corrections, while avoiding chasing stocks that have increased too much. It is necessary to balance the ratio between stocks and cash to maintain flexibility and be ready to respond to unexpected fluctuations.

Dividend schedule this week

According to statistics, there are 50 businesses that have decided to pay dividends for the week of May 26-30, of which 41 businesses pay in cash, 5 businesses pay in shares and 4 businesses give bonus shares.

The highest rate is 20%, the lowest is 3.5%.

5 companies pay by stock:

Central Container Corporation (VSM, HNX) , ex-right trading date is May 26, rate 30%.

Nam Ha Noi Housing and Urban Development Investment Corporation (NHA, HOSE) , ex-right trading date is May 27, rate 10%.

Bich Chi Food JSC (BCF, HNX) , ex-right trading date is May 27, rate 12%.

Visicons Construction and Investment JSC (VC6, HNX) , ex-right trading date is May 29, rate 12%.

Construction Development Investment Joint Stock Corporation - DIC Group (DIG, HOSE) , ex-right trading date is May 29, rate 6%.

4 companies award shares:

Central Container Corporation (VSM, HNX) , ex-right trading date is April 26, rate 20%.

Construction and Design Joint Stock Company No. 1 (DCF, UPCoM) , ex-right trading date is May 28, rate 43.3%.

Investment and Construction Joint Stock Company No. 18 (L18, HNX) , ex-right trading date is May 29, rate 20%.

Bao Minh Securities Corporation (BMS, UPCoM) , ex-right trading date is May 29, rate 11%.

Cash dividend payment schedule

*Ex-right date: is the transaction date on which the buyer, upon establishing ownership of shares, will not enjoy related rights such as the right to receive dividends, the right to purchase additional issued shares, but will still enjoy the right to attend the shareholders' meeting.

Code	Floor	GDKHQ Day	Date TH	Proportion
CST	HNX	5/26	June 23	10%
HGM	HNX	5/26	June 27	88%
VCG	HOSE	5/26	June 27	8%
Associate Professor	HOSE	5/27	6/6	20%
L10	HOSE	5/27	12/6	15%
HAM	UPCOM	5/27	June 16	2%
HC3	UPCOM	5/27	11/6	10%
VBC	HNX	5/27	June 26	18%
MTS	UPCOM	5/27	June 18	7%
SKG	HOSE	5/27	June 20	5%
MVB	HNX	5/27	10/6	10%
PTH	UPCOM	5/27	12/6	9%
QPH	UPCOM	5/27	10/6	40%
NDN	HNX	5/27	June 18	5%
HII	HOSE	5/27	6/6	3%
VPD	HOSE	5/28	June 30	2%
HTI	UPCOM	5/28	6/6	18%
CCV	UPCOM	5/28	9/6	46.3%
TDW	HOSE	5/28	11/6	14%
VIP	HOSE	5/28	June 26	10%
VC6	HNX	5/29	June 20	10%
TTC	HNX	5/29	10/6	4%
PLC	HNX	5/29	June 17	5%
HES	UPCOM	5/29	6/24	4%
DTK	HNX	5/29	June 27	5%
DHP	HNX	5/29	June 25	5%
QSP	UPCOM	5/29	June 30	20%
HLS	UPCOM	5/29	4/7	15%
VGG	UPCOM	5/29	June 30	15%
TMB	HNX	5/29	June 17	20%
TBW	UPCOM	5/29	June 16	12%
NVP	UPCOM	5/29	June 23	3.3%
MCM	HOSE	5/29	June 30	10%
TOW	UPCOM	5/29	8/29	30.5%
BCB	UPCOM	5/29	June 20	28.1%
SEP	UPCOM	30/5	June 20	5.1%
BSP	UPCOM	30/5	June 17	10%
GLW	UPCOM	30/5	June 16	5%
AAA	HOSE	30/5	June 20	3%
ISH	UPCOM	30/5	June 30	10%
DVP	HOSE	30/5	June 27	40%
VTO	HOSE	5/23	June 25	10%
PMS	HNX	30/5	June 16	30%