HIGHLIGHTED NEWS
As of June 30, 2025, total outstanding credit in the banking system had reached over VND 17.2 quadrillion, up 9.9% compared to the end of 2024 and up 19.32% year-on-year. The credit growth was mainly concentrated in priority sectors and business production. This is also the highest credit growth rate since 2023. In absolute terms, nearly VND 1.55 quadrillion in credit was injected into the economy in just the first half of the year—equivalent to nearly VND 260 trillion per month. Regarding the results of monetary policy management and banking operations in the first six months of 2025, the State Bank of Vietnam (SBV) operated open market operations in a flexible and proactive manner, aligned with the developments of the monetary market and the SBV’s monetary policy objectives. In terms of interest rate management, the SBV continued to maintain its policy rates, enabling credit institutions to access funding from the central bank at low costs, thereby creating favorable conditions to support the economy. As a result, lending rates continued to decline. The average lending interest rate for newly arising transactions at commercial banks stood at 6.29% per year, down 0.64 percentage points compared to the end of 2024. Notably, in 2025, the SBV removed the credit growth quota (credit "room") for foreign banks and non-bank credit institutions, now applying it only to commercial banks. The central bank is gradually phasing out the credit quota system in accordance with the Prime Minister's directive, aiming toward a more proactive and flexible policy framework that better aligns with practical conditions and macroeconomic stability goals.
TRADING STRATEGY
The stock market continued its recovery and closed at 1,415 points, with liquidity slightly decreasing compared to the beginning of the week but still high relative to the average of the previous week. Capital flows tended to target certain VN30 blue-chip stocks before spreading to mid- and small-cap stocks in sectors such as basic materials, financial services, construction, and building materials. On the other hand, downward pressure persisted on stocks in industrial services, technology, and insurance. Today, the VN-Index is expected to fluctuate within the 1,410–1,420 range.
The market easily broke through the psychological resistance zone around 1,400 points after news that Vietnam’s retaliatory tariffs remain relatively low compared to the 14 countries that received tariff threat letters from U.S. President Donald Trump. Foreign investors continued to maintain a strong net-buying position. Large-cap stocks continued to guide capital flows and play a stabilizing role for the index. The VN-Index is currently on an upward trajectory, aiming to test the resistance range of 1,420–1,430 points. Investors are advised to stay patient with their strategic portfolios. Meanwhile, new disbursements should focus on companies with strong earnings growth potential in late 2025 or those with stable price accumulation bases. It is recommended to avoid chasing prices after sharp increases over multiple sessions.
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