HIGHLIGHTED NEWS
According to the Ministry of Finance, from the beginning of the year to April 28, 2026, the total government borrowing reached approximately VND 132,641 billion, equivalent to 13.7% of the annual plan, while debt repayment obligations reached VND 172,865 billion, equivalent to 32.5% of the plan, and have been fully and promptly fulfilled. Of this, the government has raised approximately VND 125,556 billion through domestic bonds, with an average maturity of nearly 10 years and an interest rate of approximately 4.09% per year, indicating relatively favorable conditions for domestic capital mobilization. Conversely, foreign borrowing remains limited, with only one loan of Yen 50 billion signed in the first four months of the year, and actual disbursement reaching approximately VND 7,085 billion. Furthermore, public debt indicators continue to be controlled within acceptable limits, with public debt projected to be around 35–36% of GDP and direct debt service obligations relative to budget revenue at 20–21% by the end of 2026, thus indicating that fiscal space continues to be maintained.
TRADING STRATEGY
The stock market regained its upward momentum, closing at 1,874 points with improved liquidity compared to the weekly average. Positive capital flows remained in leading stocks in the real estate, oil and gas sectors, and some individual stocks in the industrial services and utilities sectors. Meanwhile, selling pressure mainly occurred in the financial, basic resources, and chemical sectors. The VN-Index is likely to fluctuate around the 1,865-1,890 point range today.
The market experienced its sixth consecutive session of sideways trading with a wide range and low average liquidity. Overall sentiment remains cautious amidst the return of unpredictable geopolitical tensions and a lack of information in the domestic market. However, the slight positive signs of capital flows towards the end of the session could provide support for a new rebound in the VN-Index, aiming to retest the resistance level around 1,900 points in subsequent trading sessions. In the aforementioned positive scenario regarding the index score, if selling pressure tends to increase in line with the upward trend of the index or if the flow of money lacks diffusion, especially in highly liquid sectors, investors may consider balancing their stock holdings and refrain from chasing new positions or increasing their strategic portfolio holdings at high prices. Short-term transactions should be flexible and adapt to the flow of money.
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