Core Viewpoint - The Vietnamese stock market is experiencing a significant surge, with record trading volumes and a bullish sentiment among retail investors, driven by favorable economic conditions and foreign investment inflows [1][4][11]. Group 1: Market Performance - On August 5, the total trading volume in the Vietnamese stock market reached nearly 86 trillion VND (approximately 23.88 billion RMB), marking the highest single-day trading volume in history [1]. - The Ho Chi Minh Index (VN Index) hit a historical peak of 1585.98 points, with a year-to-date increase of over 22%, indicating a strong bull market [1][4]. - The VN Index rose by 1.2% on a recent Tuesday, closing at 1547.15 points [13]. Group 2: Investor Sentiment - Retail investors in Vietnam are highly enthusiastic, with a significant increase in new trading accounts, surpassing 970,000 in the first half of the year, bringing the total to over 10 million [8][11]. - The sentiment among retail investors is extremely bullish, with slogans like "Let the Ho Chi Minh Index reach 1800 points" circulating widely [12]. - Retail investors account for over 80% of the trading volume in the market, making them a dominant force [11]. Group 3: Foreign Investment and Economic Factors - Foreign investment is returning to the Vietnamese market, with net foreign purchases of Vietnamese stocks amounting to $298 million in July, one of only two months of foreign inflows in the past year [1]. - Morgan Stanley has upgraded Vietnamese stocks to "overweight," raising the year-end target for the Ho Chi Minh Index to 1600 points, influenced by a recent trade agreement with the U.S. that reduced tariffs on Vietnamese goods [4][5]. - The expectation of Vietnam's potential upgrade by FTSE Russell from frontier to secondary emerging market status is also contributing to positive investor sentiment [7]. Group 4: Future Outlook - Analysts predict that the Ho Chi Minh Index could reach 1800 points next year and exceed 2000 points by 2027, despite the current forward P/E ratio being slightly above its five-year average [18]. - The Vietnamese government aims for economic growth exceeding 8% this year, which is expected to support profit growth and bolster market confidence [18].

8月5日，越南股市当天全市场成交总额逼近86万亿越南盾(折合人民币238.8亿元)，创下了有史以来单日成交最高水平。而在破纪录的成交额背后，则是该国 股市依然未见停歇的创新高之旅： (胡志明指数领涨东南亚市场) 摩根大通预计，随着上月达成的美越贸易协议，美国对越南商品的关税从4月的46%下调至20%，越南股市的资金流入很可能将持续。该行已将越南股票评 级上调至"超配"，并将胡志明指数的年底目标点位最高上调至了1600点。 "我已经很久没见过市场这么活跃了，"现年39岁的越南散户投资者Pham Nam目前已停止了从事自由职业房地产经纪人工作，转而专注于股票交易。 越南散户热情高涨 Turicum Investment Management合伙人Marco Martinelli表示，受美元走弱、美国股市估值过高以及对富时罗素可能会将越南市场"升咖"的预期所提振，越南 股市可能会迎来更多资金流入。 他指出，再加上愈发看涨的越南国内散户情绪，这为"未来几个月更强的市场表现铺平了道路"。 越南胡志明指数(VN指数)周二盘中一度刷新了历史最高位1585.98点，年内迄今的累计涨幅高达逾22%，市场持续不断的"牛市行情"进 ...