HIGHLIGHTED NEWS
The State Treasury has issued a notice regarding its demand to purchase foreign currency from commercial banks, with an expected maximum volume of 100 million USD. This foreign currency will be purchased via spot transactions on May 21, with the expected settlement date being May 23. Based on the State Bank of Vietnam’s transaction exchange rate for USD (23,770 VND/USD), the estimated amount the State Treasury will spend on this transaction is about 2,377 billion VND. The State Treasury’s move to auction for USD purchases—typically aimed at servicing external debt—while the USD remains at a high level, continues to add pressure on the exchange rate. Since the beginning of the year, the State Treasury has conducted nine rounds of foreign currency purchases with a total value of nearly 1.6 billion USD.
Minister of Industry and Trade Nguyễn Hồng Diên met and worked with leaders of major corporations including Excelerate, Lockheed Martin, SpaceX, and Google in the United States. The Minister affirmed that Vietnam encourages Excelerate to participate in developing infrastructure and the liquefied natural gas (LNG) market in Vietnam. Vietnam is also facilitating conditions for LNG businesses, including reducing the import tax on LNG from 5% to 2%. During a working session with Lockheed Martin, Ms. Nancy Ziuzin—representing the company—reaffirmed Lockheed Martin’s commitment to supporting Vietnam's development in key sectors such as aviation, aerospace, and defense technology. Meanwhile, SpaceX committed to investing approximately 1.5 billion USD to provide nationwide broadband internet access, especially in remote, border, and island areas. In a meeting with Google, the company thanked Vietnam for supporting its investment and business activities and pledged to accompany Vietnam during its ongoing trade negotiations with the U.S.
TRADING STRATEGY
The stock market continued its recovery momentum and closed at 1,323 points, with improved liquidity surpassing the weekly average. Capital flow showed signs of divergence again, trending toward leading stocks in sectors such as real estate, banking, industrial services, construction, and materials. Meanwhile, selling pressure increased in technology, chemicals, and retail sectors. The VN-Index is likely to fluctuate within the 1,320–1,330 range today.
The market has returned to a short-term recovery trend. However, cautious sentiment has led to growing profit-taking and portfolio rebalancing pressure, especially in stocks that have recently experienced a strong rebound or surged in price without a corresponding rise in liquidity. The main contributors to the index’s recovery remain selective individual stocks with their own internal drivers. In the upcoming sessions, the VN-Index is expected to gradually climb toward the 1,340–1,350 range. Investors should focus on selective trading, particularly with new buying positions. Priority should be given to fundamentally strong stocks that are supported by capital inflows or have promising Q2 2025 earnings outlooks.
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