HIGHLIGHTED NEWS
According to the State Bank of Vietnam, the total outstanding loan balance for social housing currently stands at approximately VND 41,000 billion, of which the Social Policy Bank accounts for over VND 25,000 billion and commercial banks over VND 16,000 billion. Credit flows are being prioritized towards low-income housing amidst increasing demand for social housing. Within the VND 120,000 billion credit package under Resolution 33, commercial banks have committed to lending approximately VND 20,500 billion, equivalent to 17% of the program's scale, with disbursement schedules depending on project implementation progress. The State Bank of Vietnam also allows the outstanding balance of this credit package to be excluded from each bank's credit growth limit to encourage participation. Currently, lending interest rates for developers are around 6.1% per year and for homebuyers around 5.6% per year. With flexible credit mechanisms and ample capital available, credit is expected to continue driving the development of the social housing segment in the coming period.
TRADING STRATEGY
The stock market closed in the red, retreating to 1,709 points with continued weak liquidity. Market divergence returned. Downward pressure was mainly seen in leading stocks in the financial, F&B, retail, and technology sectors. Meanwhile, capital tended to flow into the chemical, oil and gas, construction, and materials sectors. The VN-Index is likely to fluctuate around 1,700-1,720 points today.
The market showed signs of a slight slowdown after two consecutive positive recovery sessions. However, overall selling pressure was not too strong. The index stalled mainly due to cautious capital flows amidst the multifaceted geopolitical changes in the world. Foreign investors were net sellers. The VN-Index is currently near the resistance level of 1,730-1,750 points. If the index continues to fluctuate in this area with weak liquidity, it is likely that the market will build a new base to differentiate sectors before returning to positive territory. Investors should continue to hold their positions and may consider increasing their holdings for medium-term strategic portfolios when support and reversal signals appear. Short-term trades should be flexible and follow the flow of money.
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