The Vietnamese stock market continues to demonstrate resilience as the VN-Index recorded its eighth consecutive week of gains, closing slightly higher on March 14, 2025, at 1,326.15 points. This marks yet another milestone for the exchange, albeit with some signs of market pressure due to profit-taking among investors.
Despite the modest increase of just 0.10 points, the market's upward trend suggests strong underlying support, primarily driven by notable gains from blue-chip stocks such as VIC, VHM, and VCB. These heavyweight stocks played a pivotal role, effectively mitigating losses and maintaining investor confidence during what analysts describe as potential volatility.
“The market is still facing significant trading pressure, particularly from small and mid-cap stocks,” Nguyen Manh Dung, Senior Director of Market Strategy at Ho Chi Minh Securities Corporation (HSC), pointed out. He noted, “This week, we observed increased profit-taking activities, especially on March 13, indicating some investors are cashing out after healthy returns.”
Trading volumes have consistently broken records, soaring more than 62% compared to the average over the past 20 weeks. The average trading volume on the Ho Chi Minh Stock Exchange (HOSE) reached 940 million shares, equivalent to about 22.648 trillion VND, demonstrating the market's vibrant activity.
Yet, analysts caution investors to brace for short-term corrections. There is prevailing sentiment among market experts, like those from Vietcombank Securities (VCBS), who have indicated, “The indicators suggest supply pressure remains high, and the market is likely to experience corrections this week.” They advise investors to take partial profits on stocks yielding satisfactory returns.
Yuanta Securities echoed these sentiments, warning of the potential for narrowing fluctuations at the start of the week. They project the VN-Index may oscillate within the range of 1,320 to 1,330 points, advising investors to retain stock holdings at about 40-50% of their portfolios without making new purchases temporarily.
Despite this cautious approach, some analysts remain optimistic. Vietcap Securities emphasized, “Even with recent adjustments, the VN-Index ended the week positively, continuing its overall trend upwards.” They forecast immediate support at the 1,320-point mark and resistance at 1,330 points, noting potential buying opportunities arise around these levels.
Looking at the broader economic picture, the Vietnamese government aims for GDP growth of 8% this year, fostering confidence among investors. “The underlying economic fundamentals are strong, creating favorable conditions for continued market expansion,” added Dung.
Vietcap's analysis estimates the VN-Index may touch 1,370 points if buying interest maintains momentum, with key corrections providing good entry points for new investments. “Investors should view market corrections as opportunities to accumulate shares for the next growth phase,” Dung emphasized.
Current market dynamics showcase heightened interest varied among several sectors, including Securities, Public Investment, and Real Estate, all of which have shown promising growth since the beginning of 2025.
“The resilience witnessed during rough patches suggests the market is not only alive but thriving,” stated TPS analysts, projecting stable growth for the future. They highlighted supportive levels going down to as low as 1,296 points if market stress triggers downward corrections.
Yet, there are recurring warnings about the potential risk of the VN-Index falling below the 1,330 mark, which could initiate more significant pullbacks. Analysts at BSC highlighted this concern, indicating it could lead to testing the support range of 1,315 to 1,320 points.
Overall, the upcoming trading week of March 17 to March 21, 2025, is ripe with potential as seasoned investors prepare to navigate these slight fluctuations cautiously. Agriseco Research notes expected buying at the 1,300-point level, ensuring ample liquidity flows back to preferred stocks within the sector.
Investors must remain vigilant, considering strategies not just for short-term gains but also for long-term positioning in anticipation of the impending market recovery. “Investors should prioritize careful analysis of key stocks and remain aware of broader economic developments,” cautioned Yuanta.
The outlook remains cautiously optimistic, underpinned by the belief in gradual recovery from corrections, ensuring the long-term health and growth potential of the Vietnamese stock market continues to attract both local and foreign investors. Clearly, the anticipation of potential yields, buoyed by economic growth targets, keeps the market lively.