HIGHLIGHTED NEWS
At a meeting of the Government’s Standing Committee on the management of the gold market and the current real estate situation, Prime Minister Pham Minh Chinh highlighted key issues in the governance and operation of these two sectors in recent times. He also put forward urgent proposals and directives for relevant ministries, sectors, and regulatory bodies, including:
- For the gold market: Effectively manage the gold market to help stabilize the macroeconomy, control inflation, and boost growth; prevent market manipulation and gold smuggling; the State Bank of Vietnam (SBV) is tasked with narrowing the domestic-international gold price gap, aiming to reduce it from over 10% to just 1–2%; study the establishment of a gold exchange where individuals can freely trade, ensuring a clear separation between state management and gold production/business activities; and promote the production and crafting of gold jewelry to create more jobs.
- For the real estate market: Address existing problems and inconsistencies, ensure a synchronized legal framework for the real estate sector; propose that the National Assembly issue a resolution to resolve legal obstacles; promptly research and implement a policy to tax unused real estate; and firmly handle price manipulation, speculation, market distortion, and dominance.
TRADING STRATEGY
The stock market moved sideways in a narrow range around the reference point and closed slightly higher at 1,314 points, with liquidity sharply declining compared to the previous session. Capital flow was mildly divergent, mostly focused on large-cap stocks. Sectors such as real estate, industrial services, technology, and chemicals played a positive role in supporting the overall index. Today, the VN-Index is likely to fluctuate around the 1,310–1,320 range.
The market is currently cooling down and entering a re-accumulation phase after a strong recovery earlier. Sector rotation is taking place, with different groups alternating between gains and losses to stabilize the base level and limit the impact on the overall index. The main recovery trend aiming toward the key resistance zone of 1,340–1,350 points for the VN-Index still shows no signs of being disrupted. However, in the short term, the index may continue to move in a mixed pattern for a few sessions before a more broadly positive sentiment returns. Therefore, investors should stay focused and prioritize holding stocks with strong fundamentals, expected to maintain growth or post surprises in Q2/2025 earnings, along with select individual stocks benefiting from capital inflows or company-specific positive news.
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