Stock investment becomes attractive again with positive outlook in the second half of 2025

At the end of the trading session on July 8, VN-Index continued to increase strongly by 13.4 points to 1,415 points, the highest level in more than 3 years. Cash flow from individual and institutional investors poured in strongly, with HoSE alone recording a transaction value of over 1 billion USD. The continuous growth of the stock market since June has surprised many investors.

Foreign investors return to net buying, creating opportunities for stock investment

At the stock talk show with the theme "Investment opportunities in the second half of 2025?" organized by Nguoi Lao Dong Newspaper on July 8, Mr. Dinh Minh Tri, Director of Individual Customer Analysis - Mirae Asset Securities Company, pointed out a series of reasons for the market's improvement such as the prospect of market upgrade, positive GDP growth data in the first 6 months of the year and positive signals from tariff policies... All of these have gradually attracted cash flow back, helping the VN-Index surpass the 1,400 point mark.

Previously, in early April, the VN-Index had plummeted from 1,330 points to around 1,072 points due to concerns about uncertain factors, especially the US tariff policy. However, according to Mr. Vo Van Huy, Head of Senior Client Department - DNSE Securities Company, the market soon recovered thanks to support policies from the Government and management agencies to promote exports, domestic production and business, public investment and consumption, including a 2% reduction in VAT.

"There is currently no official tariff rate from the US on Vietnamese goods after negotiations, but the external outlook and internal strength of the economy are showing positive signs in the second half of this year," Mr. Huy emphasized.

Đầu tư chứng khoán hấp dẫn trở lại- Ảnh 1. — Experts participating in the stock talk show “Investment opportunities in the second half of 2025?” organized by Nguoi Lao Dong Newspaper on July 8. Photo: TAN THANH

A notable development in the market today is that foreign investors have returned to net buying after 2 years of continuous capital withdrawal. In the last 5 sessions, foreign investors have net bought with a total value of more than 7,000 billion VND. Explaining this, Mr. Dinh Duc Minh, Senior Investment Director - VinaCapital Fund Management Company, said that there are signs of money flowing out of the US stock market due to forecasts of a slowing US economy, a weakening USD and falling interest rates.

On the contrary, foreign investors have high hopes for the Vietnamese stock market, especially the prospect of an early upgrade. "If there are no major obstacles, the possibility of Vietnam's stock market being upgraded is more than 50%. Whether it is upgraded in September this year or March 2026, it is positive news because investors still have expectations," Minh said.

The outlook remains good.

Regarding the US tariff policy, experts believe that it will not have too much impact on the stock market in the second half of 2025. Because up to now, although there is no specific tax rate applied to Vietnamese goods, the initial signals are positive and the market has partly reflected it in stock prices.

According to VinaCapital experts, investors should focus on internal factors of the economy such as credit growth, public investment, stimulating consumption and reducing taxes and fees, especially VAT being reduced from 10% to 8% until the end of 2026 for many consumer goods. The total estimated reduction in VAT from now until the end of 2026 is up to more than VND120,000 billion, strongly affecting domestic purchasing power.

"The profit forecasts of enterprises in the second quarter and the first half of this year are all positive. If the profit growth of listed enterprises reaches about 10%-15% for the whole year, investors should prioritize an offensive strategy instead of a defensive one. It is necessary to pay attention to industries that benefit from increased credit, low interest rates, public investment, domestic consumption and the process of upgrading the market," Mr. Minh suggested.

A basic investment principle recommended by experts is: before buying stocks, investors need to thoroughly research the company. According to Mr. Vo Van Huy, there are currently 3-4 large industries with a high proportion of capitalization in the market, of which the banking industry used to account for about 50% of the total market capitalization. In the second quarter, this industry is forecast to continue to increase profits by 15%-20%, bad debt will decrease, and asset quality will improve.

"The real estate industry has bottomed out after 2-3 years of difficulties and is showing signs of recovery as some businesses have started selling new projects. The retail and steel industries, although not growing dramatically, still have many bright spots. Investors can learn about businesses with outstanding growth rates," Mr. Huy added.

Regarding the investment strategy for the second half of 2025, Mr. Dinh Minh Tri believes that when public investment disbursement shows positive signs. In addition, the group of securities stocks is also becoming the focus of net buying by foreign investors. When the market is upgraded, liquidity on the floor will be promoted. In addition, the proprietary trading portfolio of securities companies will also benefit when the VN-Index increases, while the stock price of this industry has not increased too much.

Financial markets are volatile.

On July 8, domestic and world gold prices fluctuated strongly due to the impact of US President Donald Trump's announcement of new tariffs and international developments. The price of SJC gold bars increased to 121 million VND/tael, while gold rings reached 116.9 million VND/tael. Brands such as DOJI , PNJ and Bao Tin Minh Chau also adjusted up. In the world market, the spot gold price reached 3,332.3 USD/ounce, converted to be about 14.2 million VND/tael lower than the domestic price. The psychology of concern and expectation from trade negotiations is creating waves in the gold market.

Meanwhile, Asia-Pacific stock markets mostly rose in the trading session on July 8. US stocks fell sharply with the S&P 500 down 0.8%, Dow Jones and Nasdaq both down 0.9%. Countries subject to high tariffs such as Laos and Myanmar, which charge up to 40%, have responded and stepped up negotiations to reach a new trade agreement with the US.