Biggest risks to stock market are over: analyst
The biggest risks to the stock market have passed, and this is the right time to accumulate stocks for long-term goals, said Nguyen The Minh, chief analyst at Yuanta Vietnam Securities JSC.

Nguyen The Minh, chief analyst at Yuanta Vietnam Securities JSC. Photo by The Investor/Trong Hieu.
What do you think about the current stock market?
The stock market recently recorded a positive upward trend, but there was a divergence among stock groups. I realized that cash flow mainly ran into small- and medium-cap groups. Even speculative real estate codes attracted money.
The market continued to go up in the first half of May, and is likely to face correction pressure in the second half. Liquidity may be improved, but not at a high level. Cash flow will remain in small- and medium-cap groups, not blue chips.
Is this a period of following cash flow to make buy and sell decisions?
This is a period of following cash flow. Market risks have decreased significantly compared to 2022. Inflation has started to cool down. The U.S. Federal Reserve (Fed) still raised interest rates, but slightly. It is likely to end the interest rate hike in the last six months of the year, and even pump money to stimulate the economy again. The biggest risks have passed, and this is the right time to accumulate stocks for long-term goals.
Global risks have eased, and domestically, it is highly likely that the State Bank of Vietnam will loosen monetary policy by reducing policy interest rates in the last six months of the year, even as soon as June.
In addition, support policies to increase liquidity of the real estate market are expected to remove difficulties for the property market in the near future. This market will not recover until early 2025. However, in the short term, bottlenecks in credit flow may be less than the current. Therefore, investor sentiment may be more positive in the remaining half of 2023 and the market trend will become more sustainable and clearer.
What do you predict foreign investor movements would be in the near future?
The second quarter of 2023 recorded a slight net selling of foreign investors as they were concerned about the real estate and bond markets, but in the last six months of the year, they are likely to turn net buyers due to expectations of a market uptrend. Usually with positive movements, exchange traded funds (ETFs) are easy to be net pumped. Active funds are also likely to return to net buying in the year's second half when the risks pass.
In general, the net buying of ETFs and active funds will have a positive impact on the stock market.
In the current period, which industries should investors focus on?
The last six months of 2023 is the beginning of the stock market's recovery cycle. Normally, highly speculative cash flows will focus on stocks that have fallen deeply before. Investors can pay attention to the real estate group with good cyclical support factors, investor sentiment, and support policies. Other groups include transportation, securities, construction and building materials.
In order to accumulate stocks effectively, in the last six months, investors should increase the proportion of shares again, accepting higher risks, but not use financial leverage when the pressure lingers.
- Read More
Over 86 mln bank accounts in Vietnam to be terminated from September 1
More than 86 million bank accounts that have not been biometrically authenticated or have been 'frozen' for a long time will be deleted starting September 1 to prevent fraud and cybercrime.
Banking - Sat, July 19, 2025 | 12:02 pm GMT+7
Malaysia boosts investment in green technology, digital transformation
Malaysia is unlocking high-impact investments at the intersection of sustainability and digital transformation, a key priority under the MADANI government’s green growth agenda.
Southeast Asia - Sat, July 19, 2025 | 11:59 am GMT+7
Indonesia expands retail network in Asia to boost exports
Indonesia has opened 2,400 retail stores in the Philippines and plans to expand into Malaysia, Bangladesh, and other Asian countries, Indonesian Trade Minister Budi Santoso said on Thursday.
Southeast Asia - Sat, July 19, 2025 | 11:57 am GMT+7
Southeast Asia IPO performance in Jan-June
The first half of 2025 saw a measured rebound in Southeast Asia’s capital markets, underpinned by stabilizing macroeconomic conditions and renewed momentum in larger IPOs, particularly in Malaysia and Indonesia, write Deloitte analysts.
Consulting - Sat, July 19, 2025 | 11:41 am GMT+7
Vietnam's fund management market must be transparent, sustainable to allure investors: experts
To spur the growth of Vietnam’s fund management industry, an open, transparent and fair playing field is needed for all participants, experts said at a seminar hosted by The Investor on Thursday.
Finance - Sat, July 19, 2025 | 9:32 am GMT+7
More data center investment to be poured into Vietnam: Cushman & Wakefield
Vietnam is an ideal destination for data center investment and the country is expected to see further interest from international investors, according to consultancy firm Cushman & Wakefield.
Companies - Sat, July 19, 2025 | 9:00 am GMT+7
Vietnam's Ministry of Science and Technology works with Google to explore digital transformation, AI
The Vietnamese Ministry of Science and Technology (MoST) has been working with Google to explore deeper cooperation in digital transformation, AI, and support for small and medium-sized enterprises (SMEs).
Companies - Sat, July 19, 2025 | 12:01 am GMT+7
Thailand hopes for US tariffs at levels comparable to other regional countries
Thai Deputy Prime Minister and Minister of Finance Pichai Chunhavajira on Friday expressed his expectation that the U.S.'s final reciprocal tariff rate imposed on Thailand's exports will align closely with other countries in the region, likely settling at approximately 20%.
Southeast Asia - Fri, July 18, 2025 | 11:53 pm GMT+7
Vietnam's central bank to assess compliance of banks in risk management
The State Bank of Vietnam (SBV) will deploy monitoring measures and tools to assess the compliance of commercial banks in implementing requirements related to risk management, especially compliance with Basel III international banking standards, an SBV official said on Wednesday.
Banking - Fri, July 18, 2025 | 11:49 pm GMT+7
Malaysia aims to play key role in implementing ASEAN Power Grid
Malaysia is expected to assume a key role in the implementation of the ASEAN Power Grid (APG) starting next year, leveraging its strategic advantages to lead the regional initiative aimed at integrating electricity transmission networks across Southeast Asia.
Southeast Asia - Fri, July 18, 2025 | 11:36 pm GMT+7
Tran Duc Thang assigned to be acting Minister of Agriculture and Environment
Vietnam's Prime Minister Pham Minh Chinh has assigned Tran Duc Thang, a Party Central Committee member and standing Deputy Chief Inspector of the Government, to be acting Minister of Agriculture and Environment, starting from Thursday.
Politics - Fri, July 18, 2025 | 11:28 pm GMT+7
Gasoline vehicle market stalls as consumer sentiment wavers
While the electric vehicle (EV) market is gaining momentum, dealers of gasoline-powered cars and motorbikes, both new and used, in Hanoi are facing a wave of order cancellations, vehicle returns, and even deposit forfeiting.
Companies - Fri, July 18, 2025 | 7:48 pm GMT+7
E10 fuel rollout marks key step in Vietnam’s green energy transition
From January 1, 2026, all gasoline distributed across Vietnam must contain 10% ethanol, marking a pivotal milestone in the country’s shift toward green energy and its long-term carbon neutrality goals.
Companies - Fri, July 18, 2025 | 7:40 pm GMT+7
Vietnam's consumer finance major F88 wins M-CRIL’s gold-level client protection certification
F88 Investment JSC (F88), a pioneering enterprise in the field of alternative finance in Vietnam, has once again reaffirmed its position by receiving the prestigious Gold-Level Client Protection Certification (CPC) from M-CRIL.
Companies - Fri, July 18, 2025 | 4:36 pm GMT+7
HCMC faces shortfall of 179,000 new apartments: Savills
Ho Chi Minh City aimed to develop approximately 235,000 new housing units for the 2021-2025 period, but only 24% of this target has been achieved, leaving the city short by 179,000 units.
Real Estate - Fri, July 18, 2025 | 4:09 pm GMT+7
Telecom giant Viettel proposes $317 mln wind power project in central Vietnam
Military-run telecom heavyweight Viettel is proposing a 198 MW wind power project in the central province of Quang Tri, with four separate plants and a total cost of $317 million.
Energy - Fri, July 18, 2025 | 3:54 pm GMT+7
- Consulting
-
Rethinking resilience: How typhoon Yagi redefines supply chain strategies in northern Vietnam
-
Remove roadblocks to lure foreign investment into Vietnam: HSBC exec
-
AI can be a game changer for Vietnam tourism
-
In trade and investment, ASEAN and China are better together
-
Investment opportunities in LNG-to-power projects in Vietnam
-
Pepper prices 2024: will the dream of 'black gold' repeat?