HIGHLIGHTED NEWS
The State Bank of Vietnam has just issued a mechanism allowing credit institutions to exclude the additional outstanding loan balance for social housing and industrial parks/export processing zones in 2026 from their real estate credit limits. This move expands lending capacity for priority segments and demonstrates a selective easing of credit for the real estate sector. However, banks must still control real estate credit growth to ensure it does not exceed the overall credit growth rate to guarantee the safety of the financial system.
The State Bank of Vietnam and the US Department of Treasury have issued a Joint Statement on Monetary Policy, agreeing to strengthen consultations on macroeconomic, financial, and monetary policy. Accordingly, both sides commit to complying with their obligations under the Charter of the International Monetary Fund (IMF), refraining from manipulating exchange rates or using macroeconomic policies and capital flows to create unfair trade advantages or intentionally influence exchange rates. The statement acknowledges that foreign exchange intervention is a legitimate tool for market stabilization, and that Vietnam will publish foreign exchange data in accordance with IMF standards starting in 2027.
TRADING STRATEGY
The stock market closed the week slightly lower at 1,863 points, marking its second consecutive week of decline, with average liquidity falling to its lowest level since May 2026. Market divergence continued as capital flow weakened, mostly circulating between certain sectors such as leading real estate, oil and gas, F&B, and some individual financial stocks. Selling pressure increased in mid- and small-cap stocks in the financial services, construction, and materials sectors. Foreign investors maintained a net selling position across the board. The VN-Index is currently undergoing a short-term correction within its medium-term uptrend, with nearby support levels around 1,860 and 1,830 points. The weakening but differentiated index performance and the relatively non-spreading downward pressure may give investors more time to observe, select, and seek early investment opportunities, while also being more proactive in portfolio restructuring.
The VN-Index is likely to fluctuate around the 1,850-1,870 point range today. Investors should closely monitor each stock in their portfolio, balance their weighting appropriately, and filter for promising investment opportunities in the next phase.
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