TRADING STRATEGY
The Government has just issued Decree No. 232/2025/ND-CP amending and supplementing a number of articles of Decree No. 24/2012/ND-CP on the management of gold trading activities. In particular, the mechanism of the State's monopoly on the production of gold bars and the import and export of raw gold is officially abolished. Gold bar production activities will be transferred to a licensing mechanism and will only be available to qualified enterprises and commercial banks. Enterprises must have a charter capital of VND 1,000 billion or more, while commercial banks need a minimum capital of VND 50,000 billion, along with internal regulations on production, supervision, and quality control. Licensed units are responsible for publishing product standards, storing data, and connecting information with the State Bank. In addition, the Decree also requires gold trading transactions of VND 20 million/day or more to be conducted through bank accounts to increase transparency and risk management. When selling raw gold, businesses must use electronic invoices, store data and provide information to the State Bank. At the same time, gold bar trading organizations are responsible for publicly posting buying and selling prices, ensuring transaction safety, not selling through authorized agents, and must set up a system to store customer and transaction information to serve the State's management work.
TRADING STRATEGY
The stock market recovered positively to 1,667 points with liquidity slightly reduced compared to the previous trading session. Selling pressure decreased. Green spread across almost all groups and industries. Of which, the most notable are stocks leading the finance and real estate sectors. Today, VN-index is likely to fluctuate around the 1,660 - 1,675 point area.
The market successfully defended the psychological support zone around 1,600 points. Foreign investors actively bought net after three consecutive weeks of high-intensity net selling. Large-cap stocks returned to the role of leading the general index. According to preliminary assessments, the VN-Index in the short term is unlikely to have too many negative fluctuations. However, divergence may return and the index may fluctuate within a wide range. Investors should prioritize controlling the proportion of stocks in their portfolios, and may consider taking profits/partially reducing the proportion of stocks that have met profit expectations or whose recovery momentum shows signs of weakening. New purchases should prioritize stocks with stable price bases, reasonable valuations or short-term supporting fundamentals.
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