August Market Recap
As we transitioned into August, the Vietnamese stock market continued its upward trajectory, buoyed by strong domestic capital inflows and an increasingly bullish investor sentiment. Despite some notable fluctuations during the month, the overall trend remained positive.
Towards the end of July, the VN-Index had reached a new historical peak, successively conquering significant milestones of 1,552 points, 1,557 points, and approaching 1,600 points in early August 2025. Riding this momentum, the index further solidified its recovery trend that began in late June and maintained a steady upward path.
By mid-August, the VN-Index broke through the 1,640-point mark, underscoring the robustness of the upward trend. This was accompanied by consistently improving market liquidity, with average trading values surging. Statistics show that liquidity during August hovered around VND 47,000 billion per session, indicative of investors’ heightened interest in the stock market. Notably, this capital inflow was concentrated on leading stocks, particularly large-cap stocks in sectors such as banking, securities, real estate, and construction, which directly influence the VN-Index.
However, after a persistent upward march since late July, the VN-Index approached the psychological resistance level of 1,700 points in mid-August. At this juncture, profit-taking pressure emerged, leading to some corrective sessions towards the month’s end. Notably, on August 26, the VN-Index rebounded strongly after two days of downward pressure, surging by +53.6 points to close at 1,667.63 points. Liquidity remained robust, reflecting the resilience of market sentiment and the continued influx of capital, despite short-term fluctuations.
At the end of August, the VN-Index stood at 1,682.21 points, nearly 180 points higher than the previous month’s close. As the index neared the psychological resistance of 1,700 points, the market entered a “trial by fire” phase, with increased profit-taking pressure. In this context, sustaining robust capital inflows is crucial for the VN-Index to successfully breach this significant resistance level.
VN-Index Performance from the Beginning of the Year until August 31, 2025
September Market Outlook
Entering September, the Vietnamese stock market is expected to maintain its upward trajectory, likely fluctuating within the 1,700–1,800-point range. The growth process may entail technical corrections and oscillations, which are typical within a robust upward trend. Notably, the 1,640-point level continues to serve as a strong support zone, providing a reliable foundation during market corrections. Liquidity is anticipated to remain positive, reinforcing the pivotal role of domestic capital inflows in driving the overall market trend.
From a sectoral perspective, several groups of stocks are poised to be in the spotlight during September. Securities stocks are forecast to benefit directly from ample liquidity and the prevailing bullish market sentiment. Steel (HPG, HSG, NKG, etc.) and chemical (DDV, DGC, etc.) stocks have the potential to recover, driven by promising domestic consumption and favorable commodity price trends. Port stocks (GMD, VSC, etc.) continue to exhibit positive prospects due to sustained growth in import-export activities, while construction and installation stocks (CTD, HHV, C4G, etc.) may be propelled by public investment capital. Notably, oil and gas stocks (PVD, GAS, BSR, etc.) emerge as a crucial focal point, benefiting from elevated oil prices and the burgeoning outlook for energy infrastructure investments.
Given these insights, investors’ strategy for September should be flexible and selective. For long-term investors, the focus should be on stocks with solid fundamentals, attractive valuations, and clear growth prospects. Concurrently, short-term trading opportunities can be leveraged to restructure portfolios, especially when holding a substantial stock allocation, thereby optimizing performance amidst a market brimming with opportunities.
In summary, September not only presents a challenge at a critical resistance level but also offers investors an opportunity to restructure their portfolios, capitalize on leading sectors, and harness the dynamic capital flows, thereby turning the “trial by fire” into an “investment bright spot.”
(*) This article is intended to provide information to investors for reference only. Accordingly, forecasts and information in this report are subjective and may change without prior notice. The article does not constitute a solicitation or offer to buy or sell any securities, and investors should make their own assessments and decisions. The article is not responsible for any investment decisions made by investors.
Article provided by VPS Securities Joint Stock Company
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