HIGHLIGHTED NEWS
The Ministry of Finance is proposing to finalize regulations on income from capital gains, securities, and real estate transfers in the draft Decree guiding the 2025 Personal Income Tax Law, with the aim of increasing transparency and consistency in management. Accordingly, income from capital gains transfers will continue to be divided into three categories and subject to a 20% tax rate on the difference between the selling price and the cost, or 2% on the selling price if the cost cannot be determined; unlisted shares will also be added to the list of taxable assets. For real estate, the tax will be determined at 2% on the transfer price, based on the contract or land price list when the declared price is not appropriate. In addition, the draft clarifies how to determine the value of houses and structures attached to land, including assets under construction, as well as the timing of tax calculation in each specific case. Furthermore, regulations on tax declaration and payment on behalf of others, authorization, or capital contribution using real estate will also be retained.
TRADING STRATEGY
The stock market recovered to the 1,672 point mark with improved liquidity. Selling pressure decreased and only affected a few individual stocks. Money flowed freely, led by stocks in the real estate, financial services, chemical, construction, and materials sectors. The VN-Index is likely to fluctuate around the 1,655-1,680 point range today.
The market experienced mixed movements around the 1,660 point mark, with average liquidity gradually showing signs of improvement. Cautious sentiment has eased somewhat as money flows tend to return to stocks in sectors with high public exposure. This week also marked several new advancements in the government's efforts to stabilize the domestic macroeconomy through a series of diplomatic activities and economic support policies. This suggests that any negative impact from global geopolitical fluctuations in the coming period is unlikely to have as severe and long-lasting negative effects on the domestic market as it has recently. Investors should maintain a reasonable proportion of stocks, avoid panic selling when market fluctuations occur, and wait for supporting fundamental factors and reversal signals to seek new investment opportunities, prioritizing fundamentally sound stocks with attractive valuations or dividend yields.
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