The Vietnamese stock market showed subtle recovery signs on March 25, 2025, despite increased selling pressure in the closing moments. The VN-Index rose slightly, concluding the day at a gain of 1.6 points, reaching 1,331.92. Meanwhile, liquidity experienced a boost on the HoSE, with a remarkable trading volume of 17,420 billion VND.
Yesterday's trading session saw foreign investors pull a net sale of approximately 427 billion VND, focusing on stocks such as SHB, FPT, and TPB. Nonetheless, the dynamics of the market seemed tinged with caution as the indices struggled to reflect the broader sector trends, indicating the complexity of the underlying economic narrative.
As Vietnamese investors keep a steady pulse on market movements, expert queries into investor behaviors reveal a growing inclination toward restructuring portfolios away from excessive risk-taking. In a recent discussion on VTV8's Finance Street Talk Show, Mr. Nguyen Duy Anh, Director of Vietcombank Fund Management Company (VCBF), suggested that fluctuating market conditions necessitate a thoughtful approach to investment, highlighting that individuals should prioritize asset allocation and risk mitigation.
Mr. Nguyen noted, “The growth of the VN Index from the start of 2025 has been quite unexpected, as many securities firms anticipated a more challenging year with stronger performance expected in the latter half.” The sentiment from institutional players indicates they believe financial metrics such as stable interest rates will play a crucial role in shaping the market's performance moving forward.
In parallel, the real estate sector is under scrutiny as emerging trends point towards a shift in investor strategy. Statistics from Batdongsan.com.vn indicate that apartment searches plummeted nearly 18% in the first quarter of 2025 compared to the previous year, while the number of sales listings surged. Mr. Nguyen Van Dinh, President of the Vietnam Real Estate Brokers Association, noted that early divestment reflects a proactive risk management strategy rather than merely a profit-taking maneuver.
In this evolving real estate landscape, Mr. Dinh elaborated, “Investors are no longer fixated on quick trades but are more inclined towards long-term strategies that prioritize liquidity and diversification.” Such sentiments underline a broader confidence shift among property investors who favor tangible assets over speculative ventures.
For instance, the land plot segments in Binh Duong, Long An, Dong Nai, and Ba Ria - Vung Tau have regained traction with purchasing power rebounding notably. Mr. Nguyen Quoc Anh, Deputy General Director at Batdongsan.com.vn, highlighted that investors are gravitating towards landed properties, particularly those likely benefiting from enhanced infrastructure and proximity to industrial hubs.
Prices in Nhon Trach (Dong Nai) illustrated significant growth, rising by 10-15% in the first half of 2025 due to demand near the HCMC - Long Thanh - Dau Giay expressway. In Hung Yen, the land values around the Yen My industrial park have surged by 12% following new infrastructure development plans.
Amid this shifting narrative, the market’s responsiveness to external economic pressures remains a critical point of analysis. With projections indicating Vietnam's GDP growth rate could exceed 8% this year, increased foreign investment coupled with domestic strengths could position the market for future gains.
However, experts warn of potential volatility. Mr. Duy Anh stated that 2025 will likely be a year marked by higher fluctuations influenced by international trade policies, particularly from the U.S. Given Vietnam's trade surplus with the U.S., changes in tariffs could affect the flow of goods and capital.
Furthermore, the gold market is also experiencing upward momentum, continuing to appeal as a hedge against economic uncertainties. On March 26, gold prices climbed markedly in both domestic and global markets, with SJC gold listed at 95.9 million VND/tael for buying and 97.9 million VND/tael for selling, showing increases across several transactions.
Adrian Day, President of Adrian Day Asset Management, expressed optimism about gold prices, stating that even though a temporary pullback might occur, the fundamentals driving gold's growth remain intact. Analysts are eyeing the anticipated release of the Personal Consumption Expenditure (PCE) index later this week to provide clues about the Federal Reserve's policy direction and its subsequent impact on precious metals.
While some market participants express concern over the Goldman Sachs uncertainties, others assert that the current climate might represent an ideal entry point for substantial gold investments. As consumer sentiment evolves in response to fluctuating economic indicators, Mr. Duy Anh's appraisal of risk vs. return resonates throughout investment communities.
Ultimately, as both the stock and real estate markets in Vietnam grapple with changing dynamics, the focus for many investors shifts towards long-term success rather than immediate gratification. This mindset encourages a meticulous analysis of market trends and asset performance, essential traits for navigating the complexities of Vietnam's evolving economic landscape in 2025.
