How will the stock market be this week after surpassing its historical peak?

The securities company's analysis department recommends that investors avoid chasing high prices. In addition, maintaining a safe margin lending ratio is considered an important factor to minimize losses when a reversal occurs.

VN-Index is the stock index with the strongest increase in the region recently - Photo: HA QUAN

VN-Index ended last week with a 2.26% increase, closing at an all-time high of 1,531.13 points with weekly liquidity also at a record high, reaching 6.86 billion shares.

Stocks likely to maintain upward momentum

* Mr. Dang Le, Vietcap Securities analyst:

- We have not observed unusually high selling activity in key sectors at present. Therefore, the index is likely to maintain its upward momentum at the beginning of the week, approaching the 1,535-1,550 point range.

Small and medium-cap stocks in the banking, securities, real estate, industrial and retail sectors may continue to attract short-term cash flow, including stocks on the HNX and UpCom floors.

However, the process of surpassing the peak will be accompanied by strong fluctuations and fluctuations due to short-term profit-taking pressure and the possibility of market corrections at the end of the week cannot be ruled out. At that time, the short-term support zone for the VN-Index will be 1,500-1,510 points.

Next week, we believe that the Q2-2025 business results of listed companies as well as the portfolio restructuring period of ETF funds simulating the VN30 index will create certain differentiation in the market.

Liquidity improves, confidence returns

* Mr. Truong Dac Nguyen - Investment Director of Blue Horizon Financial:

- Stock market liquidity is clearly improving, which not only reflects the shift of short-term cash flow, but is also an indicator of sentiment and confidence in the economy returning.

VN-Index surpassing historical threshold creates asset effect, helps investors feel more secure, and opens the door for businesses to boldly plan to raise capital.

The recent sustainable and healthy growth in stock prices on the stock exchange will improve investor confidence in the business operations of enterprises.

This is the time when businesses can easily issue more shares, implement ESOPs, new IPOs or M&A deals that the market is ready to accept. Thanks to that, businesses increase the equity ratio, reduce debt leverage and increase financial resistance.

Not stopping there, improved liquidity also attracts foreign investors. Foreign investors often prioritize stable and vibrant markets and when they return, the opportunities for strategic cooperation for domestic enterprises are even more open. At the same time, indirect foreign capital (FII) flows in, helping to increase foreign exchange reserves, supporting exchange rates and interest rates.

More importantly, raising capital through the stock market forces businesses to raise transparency standards, improve internal governance and information disclosure. This not only makes it easier to access capital but also helps Vietnamese businesses build long-term reputation.

The market is warming up, good businesses will certainly find it easier to raise capital. But at this time, we need to be careful of the risk of widespread capital increase abuse, virtual capital increase, and issuance that dilutes the value of existing shareholders.

Cash flow consensus - Opportunities still exist but need to be selective

* Ms. Thai Phuong Thao - analyst of Vietcombank Securities (VCBS):

- VN-Index recorded a positive trading week with liquidity increasing to an average of 35,000 - 37,000 billion VND/session. All stock groups unanimously increased points and brought profits to investors.

VN-Index still fluctuated during the session, but there was an immediate active demand to disburse, pushing the general index and stock prices up in each session of the past week. The scenario of conquering higher scores is likely to come true when the cash flow into the market is still extremely strong.

Therefore, investors need to closely follow market developments in the coming sessions and consider prioritizing disbursement of stocks that have not recorded an increase that is too hot compared to the general index, while maintaining the margin lending ratio at a safe level.

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BINH KHANH

Source: https://tuoitre.vn/chung-khoan-tuan-moi-ra-sao-sau-khi-vuot-dinh-lich-su-20250728084504659.htm