TRADING STRATEGY
The Vietnam Banks Association (VNBA) stated that the current regulation limiting the total outstanding balance of consumer loans to an individual customer at a finance company to no more than VND 100 million is no longer in line with reality. This cap forces finance companies to focus only on small, short-term loans, restricting their ability to offer larger or longer-term loan packages. Therefore, VNBA has proposed that the State Bank of Vietnam raise the consumer loan limit to VND 300–400 million. The association emphasized that increasing the loan ceiling would help expand the scale of consumer lending, improve service for high-quality customers, reduce operating costs per loan—thereby lowering interest rates—mitigate bad debt, and contribute positively to economic growth. Regarding the regulation on the proportion of direct disbursement to customers, the current rule does not apply the 30% limit to the total outstanding balance of directly disbursed consumer loans; it only applies to loans under VND 20 million. VNBA recommends raising this threshold to VND 40 million to better meet legitimate borrowing needs for daily life while curbing black-market lending. The association also proposed clarifying that disbursement via payment accounts or e-wallets should be considered a non-cash payment method and thus not be subject to direct disbursement regulations. In addition, VNBA suggested reducing the minimum ratio of consumer credit outstanding from 70% to 50%, or applying a monitoring mechanism based on capital adequacy ratio (CAR), liquidity ratio, non-performing loan ratio, and credit limits, instead of imposing a fixed ratio requirement.
TRADING STRATEGY
The stock market continued to climb, reaching 1,608 points, with liquidity slightly improving compared to the previous session. Market divergence intensified as selling pressure increased in several large-cap financial stocks and VN30 blue chips. Meanwhile, capital inflows showed improvement in mid- and small-cap stocks in the real estate, oil & gas, basic resources, construction, and materials sectors. Today, the VN-Index is expected to fluctuate within the 1,605–1,620-point range.
The market has officially surpassed the psychological threshold around 1,600 points. Capital flows remain stable and highly flexible. Many fundamentally strong, highly liquid mid- and small-cap stocks are performing positively as large-cap stocks cool down. The VN-Index is likely to continue its upward momentum toward testing and breaking the next resistance zone at 1,630–1,650 points. Medium- to long-term investors are advised to maintain their strategic portfolios and consider rebalancing based on valuation and fundamental growth potential. Meanwhile, short-term trading should focus on individual stocks with strong capital inflows that have not undergone sharp rallies, especially during periods of volatility or cooling-off.
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