Odds of Vietnam stock market surpassing 1,300 points rise significantly: broker

The likelihood of Vietnam’s stock market surpassing 1,300 points has increased significantly, driven by positive macroeconomic developments both domestically and internationally, remarked Dinh Quang Hinh, head of macro and market strategy at VNDirect Securities.

The Vietnamese stock market has had a strong trading week, with the VN-Index, Vienam’s benchmark, rising in four sessions. During the last trading week, the VN-Index increased by 20.67 points or 1.62%, and approached the key psychological threshold of 1,300 points.

Commenting on this development, Hinh stated that market growth has been driven by positive domestic and international macroeconomic factors. Concerns about Trump’s tariff policy have temporarily eased as the U.S. administration has yet to introduce any significant new tariffs, leading to a decline in the U.S. dollar index to around 106.5.

Hinh noted that the market is also gradually shifting its focus to domestic aspects, particularly the 2025 GDP growth target of 8% and beyond, as well as the government’s upcoming stimulus policies.

Given this ambitious goal, he expects the government to introduce strong measures to support growth, including expanding fiscal and monetary policies.

Another significant market development last week was the Ministry of Industry and Trade’s imposition of a 120-day anti-dumping tax on hot-rolled coil (HRC) imports from China and India, starting March 8. This move is expected to have a positive impact on steel stocks, particularly Hoa Phat Group (HoSE: HPG), the expert said.

With current market trends, the VN-Index could continue its upward trajectory and challenge the strong resistance level of 1,300 points next week, Hinh predicted, noting an increasing likelihood of it surpassing this threshold.

Similarly, SHS Securities observed that the market has risen for five consecutive trading weeks, accompanied by growing trading volume. However, liquidity on the HoSE remains below the 2024 average of VND18.76 trillion ($734.9 million) per session.

According to SHS, for the VN-Index to break past the 1,300 level, strong growth momentum from businesses is essential. Besides banking and real estate stocks, which play a crucial role in the index’s movement, market liquidity must continue to improve and exceed the 2024 average as well, it said.