HIGHLIGHTED NEWS
Following the directive of General Secretary Tô Lâm on enhancing the effectiveness of gold market management, the State Bank of Vietnam has promptly developed and finalized a draft Decree amending and supplementing several provisions of Decree No. 24/2012/NĐ-CP toward a gradual, market-oriented approach with strict control. Accordingly, the draft Decree proposes abolishing the State’s monopoly on the production and importation of raw gold. Instead, the State Bank of Vietnam will license selected enterprises and banks that meet the required conditions to produce gold bars and import raw gold for the purposes of gold bar production and the manufacture of gold jewelry and fine arts. The amended draft Decree 24 also includes new regulations requiring enterprises to publicly disclose technical standards and gold content of their products; establish a comprehensive and accurate data storage system for transactions involving gold bars and raw gold; and connect with and provide timely information to relevant state management agencies. In parallel, gold bar transactions in the market will gradually be required to use bank account payments and electronic invoices to enhance transparency and openness. Additionally, the State Bank will study and consult international best practices to propose the establishment of a national gold exchange or allow gold to be traded on a commodity exchange in order to standardize and increase the transparency of gold transactions.
TRADING STRATEGY
The stock market experienced choppy movements around the reference level and closed slightly in the red at 1,315 points, with liquidity falling to its lowest level in the past two months. Capital flows rotated across sectors, with increasing intra-sector divergence. Leading stocks in the technology, retail, and telecommunications sectors, along with a few individual stocks in industrial services, construction, and materials, played a positive role in supporting the overall index. Today, the VN-Index is expected to continue fluctuating around the 1,310–1,320 point range.
The market is currently in a cooling phase, with the index alternating between gains and losses within a narrow range. Capital flows are rotating due to the absence of strong leadership from major sectors. Overall, the VN-Index remains vulnerable to further short-term volatility. Therefore, investors are advised to maintain a reasonable portfolio allocation and focus on selective trading in individual stocks with strong fundamentals or attractive valuations based on business performance prospects, while avoiding overly broad investments.
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