HIGHLIGHTED NEWS
According to the Forecasting, Statistics - Monetary and Financial Stability Department of the State Bank of Vietnam, credit institutions anticipate a slight increase in customer risk in the fourth quarter of 2025 compared to the previous quarter, but a slight decrease overall in 2025 compared to 2024. In the first quarter of 2026, credit institutions expect customer risk levels to continue to decrease and remain stable throughout 2026. Currently, the average non-performing loan ratio across the entire system is showing a slight upward trend compared to the end of 2024, and commercial banks are intensifying their debt trading and collateral handling activities. This reflects efforts to clean up balance sheets and strengthen financial foundations, given that credit in 2026 will focus on priority sectors and credit growth targets will be calculated based on credit rating assessments by credit institutions.
TRADING STRATEGY
The stock market closed in the red at 1,864 points with liquidity falling below the weekly average. Market divergence intensified. Selling pressure continued to increase in leading stocks in the financial, retail, and utilities sectors. Conversely, capital tended to concentrate more in mid- and small-cap stocks in the industrial services, technology, chemical, construction, and materials sectors. The VN-Index is likely to fluctuate around 1,855-1,875 points today.
The market experienced its second consecutive day of decline with a large range of fluctuations. The shift of capital from large-cap stocks that had experienced a period of rapid growth to mid- and small-cap stocks with lower market prices compared to their fundamental prospects is quite evident. This suggests that the index decline is merely a corrective move, combined with a cooling-off and restructuring of capital flows in the short term. The main trend of the VN-Index remains upward. Therefore, investors should still manage their portfolios individually, prioritizing timing dips to increase their holdings in strategic stocks for the medium term. Short-term trading should be flexible, following cash flow trends, and avoiding chasing prices when they are rising sharply.
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