Macro/ Strategy

Vietnam stock market in 2025 was volatile. It fluctuated widely in two sides. VnIndex fell sharply in April 2025, reaching the bottom in 2023 before recovering remarkably and established an all-time high in August 2025. On 21 August 2025, VnIndex closed at 1688.0, the highest in history.

Despite reaching a new peak, the market PE valuation showed that valuation was still at a reasonable level. The market PE at 25 August was 14.66. This was lower than the 10-year average PE of 15.1 and slightly higher than the 5-year average of 14.35.