HIGHLIGHTED NEWS
The State Bank of Vietnam (SBV) has announced an upward adjustment to the 2025 credit growth targets for credit institutions. This move comes as system-wide credit had increased by 9.64% as of July 28, 2025, compared to the end of 2024, while inflation remains under control in line with the goals set by the National Assembly and the Government. The allocation of the credit growth quota is based on specific principles to ensure transparency and openness, with the aim of meeting the capital needs of the economy, promoting economic growth, maintaining macroeconomic stability, controlling inflation, and preserving key economic balances. The SBV has directed credit institutions to decisively implement credit solutions, ensuring system safety and monetary market stability. Credit growth must be efficient and focused on production and business sectors, priority sectors, and key growth drivers in accordance with the Government’s direction. Risk-prone sectors will continue to be strictly controlled. In addition, credit institutions are required to maintain stable deposit interest rates and strive to lower lending rates by cutting operational costs, enhancing IT application, simplifying administrative procedures, and restructuring and streamlining their organizational structures. In the coming period, the SBV will continue closely monitoring domestic and international economic and financial developments and will be ready to support liquidity to facilitate credit institutions in supplying capital to the economy, while operating monetary policy in a flexible manner.
TRADING STRATEGY
The stock market closed slightly in the red, retreating to the 1,502-point level with liquidity roughly unchanged from the previous session. Market divergence continued, with capital flows tending toward mid- and small-cap stocks in the financial services, industrial services, oil and gas, chemicals, construction, and materials sectors. Conversely, selling pressure intensified among blue-chip stocks in the VN30 group. Today, the VN-Index is likely to fluctuate within the 1,500–1,515 point range.
The market continues to trade in a tug-of-war pattern around the psychological 1,500-point level following the sharp decline in the previous session. Overall investor sentiment remains cautious, causing cash flows to focus mainly on select individual stocks with supportive internal factors or unexpectedly strong Q2 earnings results. Foreign investors have turned net sellers again. The VN-Index remains in a short-term correction phase within a medium-term uptrend. The support zone is around the 1,460–1,480 point area. Investors can continue to hold their medium- to long-term strategic portfolios, while managing short-term holdings flexibly. New buying should be prioritized toward fundamentally strong stocks with reasonable valuations.
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