HIGHLIGHTED NEWS
During the official visit of General Secretary To Lam to the UK from October 28-30 at the invitation of the UK Prime Minister, the two leaders agreed to upgrade the bilateral relationship to a Comprehensive Strategic Partnership with six pillars of cooperation including politics, economics, technology, environment, culture - education and regional issues.
Deputy Governor of the State Bank of Vietnam (SBV) Pham Thanh Ha said that to date, residential deposits at credit institutions have reached about VND8 million billion, an increase of nearly 13% over the same period last year. Also according to a survey by the General Statistics Office, as of the third quarter of 2024, 68% of adults have savings in 12 months. Regarding the form of savings, the survey said that 47% keep at home; 33% deposit in banks; 6% save informally; 0.4% invest in stocks; 0.6% invest in pension funds. Thus, forms of savings still mainly depend on the banking system and itself, investment activities in the financial market are still at a low level.
TRADING STRATEGY
The stock market had a session of decline, falling back to 1,669 points with liquidity remaining low compared to the weekly average. Divergence continued. Selling pressure was mainly concentrated in leading stocks in the banking, financial services, basic resources, oil and gas sectors, and some VN30 pillar stocks. On the contrary, cash flow still tended to seek small and medium-cap stocks in the industrial services, real estate, and chemical sectors. Today's VN-Index is likely to fluctuate around the 1,660-1,685 point range.
The market fluctuated and diversified. The general sentiment was still cautious. Selling pressure was still concentrated in large-cap stocks with high mass. Cash flow gradually shifted to individual stocks in the small and medium-cap group, causing the market to temporarily lack the driving factor to create a breakthrough in terms of points. However, the recovery trend since the bottom around 1,620 points of VN-Index has not been affected for the time being. Investors can patiently hold on, waiting for the opportunity to restructure the portfolio with priority choices in growth stocks with attractive valuations for the end of 2025 and the first half of 2026.
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