In a recent comment to investors, Mr. Petri Deryng - head of PYN Elite Fund, reviewed the factors driving the recent growth of the Vietnamese stock market.
First, the US-Vietnam tariff agreement framework shows promising signs, although specific effective tariffs for each product have not been officially announced.
Next, the upcoming FTSE upgrade is reinforced by the ongoing modernization of the Vietnamese stock market, increasing expectations for an upgrade to emerging market (EM).
Globally , the US Federal Reserve (FED) is expected to begin a cycle of interest rate cuts in the next 6-12 months. This will positively support the Vietnamese bond market and contribute to strengthening the VND.
In Vietnam, the economy achieved 8% GDP growth along with supportive policies from the Government that are promoting growth through large infrastructure projects, VAT reduction, accelerating real estate licensing and expanding bank credit scale.
On the stock market, the VN-Index has surpassed the 1,500-point mark. Foreign investors have returned to net buying after news of US tariffs, although cumulative net buying has remained negative year-to-date. The market could continue its upward momentum, supported by low valuations, strong sentiment and solid fundamentals, PYN Elite Fund manager assessed.
Mr. Petri Dyring said that the current growth of the market is not really even. For example, in the fund's portfolio, securities company stocks have increased sharply, and Vietnam Airlines ' HVN stock has also had good growth. The group of banking stocks has increased at a lower rate. Meanwhile, some investments in the portfolio have not yet "taken off".
PYN Elite Fund has seen forecasts from securities companies that the VN-Index could reach 1,800 points by the end of this year.
“We do not think this is an impossible scenario, although profit-taking by domestic investors may occasionally cause strong corrections,” said Mr. Petri Dyring, giving a positive assessment of the growth of the market index and affirming that the Vietnamese stock market can continue to grow exceptionally.
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| VN-Index has surpassed the old peak after 3.5 years of waiting. |
Meanwhile, at the end of the trading session on July 25, 2025, VN-Index just had another session of increasing by more than 10 points to 1,531.13 points, bringing the index officially to the all-time peak (based on closing price). The total matched value on the HoSE floor reached VND 35,903 billion.
Source: https://baodautu.vn/kich-ban-vn-index-nam-2025-dat-1800-diem-khong-he-bat-kha-thi-d341105.html
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