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Summary:

The Vietnamese stock market (VN-Index) experienced a sharp correction after a nine-day rally, falling below 1,720 points and becoming the worst-performing market in Asia on December 10, 2025. The decline was primarily driven by profit-taking in previously high-flying stocks, especially those belonging to the Vingroup. Despite the recent downturn, analysts remain optimistic about the market’s prospects. They point to attractive valuations, historical trends of positive performance from December to March, and the potential for increased liquidity. Long-term growth is predicted, fueled by strong FDI, infrastructure investment, and structural reforms, with SSI Research setting a VN-Index target of 1,920 points for 2026. Dragon Capital emphasizes favorable valuations and the potential for market re-rating upon Vietnam’s expected upgrade to emerging market status. PYN Elite Fund is extremely bullish, forecasting a VN-Index of 3,200 by 2028.

News Article:

VN-Index Plunges, But Analysts Remain Bullish on Long-Term Prospects

Hanoi, Vietnam – December 10, 2025 – After a remarkable nine-day winning streak, the Vietnamese stock market (VN-Index) suffered a significant setback today, experiencing a sharp correction that erased gains and made it the worst-performing market in Asia. The VN-Index fell below 1,720 points following a 1.6% (28 point) drop.

The downturn was largely attributed to profit-taking in previously popular stocks, particularly those in the Vingroup conglomerate (VIC, VHM, VPL, VRE), which accounted for a substantial 27-point decline in the VN-Index.

Despite the recent losses, several leading financial institutions are maintaining a positive outlook for the Vietnamese market. Analysts point to several factors supporting continued growth, including attractive valuations, historical trends indicating strong performance between December and March, and potential liquidity improvements.

“While the recent correction may cause some concern, we believe the fundamentals of the Vietnamese market remain strong,” said a report from SSI Research. They have set a VN-Index target of 1,920 points for 2026, citing expectations of double-digit GDP growth in the country supported by strong FDI inflows and infrastructure spending.

Dragon Capital echoed this sentiment, highlighting the appealing valuation of Vietnamese stocks relative to regional peers and the potential for significant market re-rating should Vietnam be upgraded from a frontier to an emerging market. “The current valuations, coupled with strong earnings growth, make Vietnam an attractive investment destination,” stated Dragon Capital in their latest analysis.

The most optimistic outlook came from PYN Elite Fund, which forecasts a VN-Index of 3,200 by 2028, predicated on continued economic growth and strong corporate earnings.

While some short-term volatility is expected, experts remain confident in the long-term growth trajectory of the Vietnamese stock market, driven by strong economic fundamentals and an increasingly attractive investment landscape. Investors will be closely watching upcoming market data and global economic conditions to assess the direction of the market in the coming weeks.

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