On April 25, 2025, the VN-Index experienced a notable increase, rising to nearly 1,230 points, driven by strong performances from several large-cap stocks. This surge was largely supported by the Vin family of stocks, including VIC and VHM, as well as significant contributions from Masan Group's MSN and Military Bank's MBB. Although the VN-Index only managed to gain about six points during the trading session, the overall liquidity on the exchange exceeded 20 trillion VND, indicating a slight improvement in investor sentiment following turbulent trading sessions earlier in the month influenced by U.S. tariff policies.
Despite the positive movement in the VN-Index, there was a lack of clear differentiation among various sectors on April 25. The financial and banking sector faced considerable pressure, declining by 0.64%, while the telecommunications sector fell by 2.16%. The medical and pharmaceutical sector also saw a decrease of 0.64%. In contrast, the technology sector rose by 1.15%, the energy sector by 1.48%, and consumer goods increased by 2.08%, showcasing a mixed market performance.
Interestingly, foreign investors returned to net selling on April 25, with a total of over 591 billion VND. The most sold stocks included FPT with 147 billion VND, VIC with 146.77 billion VND, STB with 127.88 billion VND, and VCI with 64 billion VND. Conversely, the stocks that attracted the most foreign purchases were HPG, MSN, and HDB, with respective values of 87 billion VND, 63 billion VND, and 55 billion VND.
Looking ahead to April 28, 2025, Vietcombank Securities Company (VCBS) expressed optimism regarding the VN-Index, highlighting several positive technical indicators. According to their analysis, the index is expected to test the supply and demand dynamics successfully within the resistance zone of 1,230-1,240 points, potentially pushing toward higher milestones. However, some other indicators suggest that investors should remain cautious due to the presence of short-term fluctuations.
On the morning of April 28, the VN-Index faced challenges as it decreased by 3.69 points, settling at 1,225.54 points. The trading volume reached over 289 million shares, amounting to nearly 5,861 billion VND. The market saw a total of 204 stocks increase in value, while 254 stocks declined, and 81 remained unchanged. The HNX-Index also fell by 0.24 points to 211.48, with a trading volume of more than 17.8 million shares, equating to over 295.6 billion VND. Similarly, the UPCOM-Index dropped by 0.18 points to 92.09, with over 23.1 million shares traded, totaling nearly 253 billion VND.
Within the VN30 stock basket, there were 16 stocks that decreased, while only 12 recorded increases. Notable declines included VJC, which fell by 3.3%, SHB by 2.34%, and FPT by 1.87%. PLX and VHM both decreased by 1.61%, while BID dropped by 1.57%, and GVR fell by 1.47%. On the other hand, SSB saw an increase of 3.04%, Sab rose by 1.41%, and VRE increased by 1.32%. Overall, the morning trading session was characterized by a lack of clear upward or downward trends among the stocks, with price movements remaining muted and mixed.
Pinetree Securities noted that the stock market is likely to continue experiencing unpredictability, influenced by a variety of uncertain factors. Any movements in tax or trade policies from major economies like the U.S. and China could directly affect domestic market sentiment. Additionally, internal factors are becoming increasingly significant as companies prepare to announce their first-quarter earnings for 2025. It is anticipated that capital flows will vary significantly by sector and individual stocks, particularly those with solid fundamentals and positive profit growth or those benefiting from economic recovery cycles.
The current market is in a "sensitive information zone," where sentiment can easily overshadow fundamental factors in the short term. As a result, the VN-Index may continue to experience significant fluctuations around the resistance zone of 1,230-1,235 points, where profit-taking pressures are evident. In a positive scenario, the market could return to the resistance level of 1,265 points. However, the prevailing sentiment leans towards a defensive strategy, as macroeconomic uncertainties continue to dominate market psychology. The nearest support level for the VN-Index is around 1,200 points; if this level is breached, the index may drop back to approximately 1,170 points.
Turning to currency exchange rates, on April 28, 2025, the Vietcombank exchange rates showed a slight increase. The USD was listed at 25,810 VND for cash purchases, 25,840 VND for transfer purchases, and 26,200 VND for selling, all rising by 5 VND compared to the previous day. The Euro exchange rates also increased, with cash purchases listed at 28,809.64 VND, transfer purchases at 29,100.64 VND, and selling at 30,388.16 VND, reflecting increases of 8.29 VND, 8.37 VND, and 8.77 VND respectively.
In contrast, the British Pound saw a decline, fixed at 33,715.62 VND for cash purchases, 34,056.18 VND for transfer purchases, and 35,147.41 VND for selling, with decreases of 51.30 VND, 51.82 VND, and 53.45 VND respectively. The Japanese Yen exchange rates were set at 175.02 VND for cash purchases, 176.79 VND for transfers, and 186.14 VND for selling, with slight decreases of 0.63 VND in buying and 0.67 VND in selling. The Australian Dollar also dropped across the board, now listed at 16,191.00 VND, 16,354.55 VND, and 16,878.58 VND, reflecting reductions of 50.52 VND, 51.02 VND, and 52.64 VND.
Overall, the foreign exchange rates displayed mixed trends, with the USD and Euro experiencing slight increases while the GBP, JPY, and AUD all saw declines. The fluctuations in other currencies such as the Swiss Franc, Malaysian Ringgit, and Russian Ruble recorded increases in transfer and/or selling rates compared to the previous day, while several currencies like the Singapore Dollar, Canadian Dollar, and Hong Kong Dollar faced declines across the board.
