HIGHLIGHTED NEWS
According to the Ministry of Finance, as of March 11, 2025, state budget revenue reached VND 574.4 trillion (29.2% of the estimate), marking a 38.2% YoY increase. Central budget revenue accounted for 28.04% of the estimate, while local budget revenue stood at 30.46% of the estimate. In the first two months of 2025, revenue collection outpaced expenditure by a factor of two, resulting in a budget surplus of VND 206 trillion. Meanwhile, government bond issuance totaled over VND 61 trillion, equivalent to 55% of the Q1 target and 12.2% of the 2025 full-year plan. According to the World Bank Vietnam, in 2024, Vietnam's budget surplus was 1.8% of GDP, driven by spending restraint and slow public investment disbursement. However, in 2025, the budget is projected to shift to a deficit of 1.4% of GDP, before narrowing to 1% of GDP in 2026, as the government aims to reduce public debt amid growth outpacing interest rates.
TRADING STRATEGY
The stock market declined, retreating to 1,330 points, with lower liquidity compared to the previous session. Capital rotation was observed, favoring technology, oil & gas, chemicals, and utilities, while selling pressure emerged in financials, real estate, basic materials, and retail. VN-Index is expected to fluctuate within the 1,330-1,335 range today.
The market is moving sideways near the 1,340-1,350 resistance zone, reflecting cautious sentiment. Capital rotation across sectors is helping maintain price stability without significantly impacting the overall index. The medium-term uptrend remains intact, and investors may take advantage of market pullbacks to accumulate strategic holdings. Short-term trading should focus on individual stock performance and closely track capital flows.
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