Vietnam Insight

Highlights:

Afternoon of 20/01/2026: Vietnam’s Ministry of Finance officially announced new administrative procedures for crypto assets, implementing Government Resolution No. 05/2025/NQ-CP on piloting the crypto-asset market.

21/01: President Trump unexpectedly stated that a framework agreement on Greenland had been reached, and he withdrew the previous threat.

Afternoon of 23/01: At the National Convention Center (Hanoi), the 14th National Congress of the Communist Party of Vietnam concluded successfully. Mr. Tô Lâm was re-elected as General Secretary of the 14th Party Central Committee.

Assessment: A series of domestic and global developments have contributed to a more cautious investor stance. This is reflected in early signs of liquidity declining near the peak, while stocks that previously benefited from state divestment-related news have started to face profit-taking pressure. We believe that over the next few weeks, private-sector companies with solid fundamentals will attract more attention from capital flows, especially as many firms begin releasing their FY2025 financial statements.

Technical view: The VN-Index closed the week at 1,870.79 points (-8.34 points; -0.44%) with slightly lower liquidity. Foreign investors were net sellers this week. The broader trend remains upward.A reference support zone is around 1,810 points, which aligns with the 20-day moving average (MA20) and the former resistance area.

Investment ideas: Short-term investors may consider taking profits in stocks that have surged on state divestment-related news. Investors may also consider selectively adding exposure to the securities and steel sectors, as these groups remain attractive. For medium- to long-term positioning, fundamentally strong and undervalued real estate stocks are also worth considering.