HIGHLIGHTED NEWS
At a meeting with ministries, associations, and businesses in the securities and real estate sectors regarding the draft Personal Income Tax Law (replacement), Deputy Minister of Finance Cao Anh Tuan stated that the Ministry is conducting a comprehensive review to develop a roadmap for adjusting personal income tax policies over the next five years. Accordingly, the draft law will retain the current 2% tax on the transaction value of real estate transfers and does not propose imposing a 20% personal income tax on the profit from each real estate transaction. At the same time, the Ministry will continue to review and propose amendments to policies in a way that aligns with reality, ensures market stability, and conforms to international practices. For income from securities transfers, the Ministry of Finance is studying an option that would allow individuals to settle taxes at the end of the year to better reflect actual income. Regarding dividend payments in the form of shares, personal income tax will be applied when investors transfer those shares, at a tax rate of 0.1% of the transfer price. On the issue of family circumstance-based deductions, the Ministry of Finance is submitting proposals to the National Assembly Standing Committee to consider increasing the deduction amount. Additionally, adjusting the deduction amount based on the national average would benefit people living in poorer provinces and remote areas. Regarding taxation policy for individuals producing digital content on social media, the draft proposes allowing such individuals to deduct reasonable expenses of up to VND 4 million per month before calculating taxes, to better reflect actual incurred costs.
TRADING STRATEGY
The stock market declined for the second consecutive session, closing at 1,495 points with slightly lower liquidity compared to the previous trading day. Selling pressure tended to increase among leading stocks in the financial, real estate, industrial services, and chemical sectors. Meanwhile, mid- and small-cap stocks in the basic resources, construction and materials, and consumer goods sectors played a key role in supporting the overall index. Today, the VN-Index is expected to fluctuate within the 1,485–1,505-point range.
The market has entered a consolidation phase, cooling off after six consecutive weeks of strong gains that pushed the index past historic highs, with liquidity remaining at high levels. General investor sentiment has become more cautious, leading to increased profit-taking and portfolio trimming—especially in stocks with high market sensitivity or those that recently experienced sharp gains. However, capital flow remains selectively directed toward stocks within ecosystems or business groups that have strong fundamentals or play a key role in macroeconomic development. This indicates that the medium-term uptrend of the VN-Index remains intact. Current fluctuations are considered short-term. The index’s support zone is still around the 1,460–1,480-point range. Therefore, the recommended strategy for investors is to continue holding mid- to long-term positions, stay flexible in portfolio restructuring, or look for buying opportunities during market shakeouts for short-term investments—prioritizing companies with solid fundamentals, reasonable valuations, and avoiding over-diversification.
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