Broad-based rally lifts HoSE as oil, steel and property stocks lead gains despite foreign net selling

Vietnam’s stock market roared back to life after the Lunar New Year holiday, with the benchmark VN-Index surging more than 36 points in a broad-based rally that underscores renewed domestic risk appetite—even as foreign investors continued to pull capital from the market.

The VN-Index closed at 1,860.14 points, marking one of its strongest post-Tet sessions in recent years. On the Ho Chi Minh Stock Exchange (HoSE), advancing stocks outnumbered decliners nearly four to one, with 280 gainers versus just 73 losers. Fifteen stocks hit their daily upper trading limit, commonly known locally as the “purple ceiling,” signaling aggressive buying momentum across sectors.

Energy and industrial names led the charge. Shares of Petrolimex (PLX) and PetroVietnam Gas (GAS) were among standout performers, reflecting continued interest in oil and gas plays amid global energy volatility. Meanwhile, heavyweight stocks tied to two of Vietnam’s most prominent tycoons—Pham Nhat Vuong and Tran Dinh Long—provided crucial index support. Vingroup (VIC) rose 1.44%, contributing 3.4 points to the index, while Hoa Phat Group(HPG) climbed 2.42%, adding 1.52 points.

Banking and property names including VPBank, Vinhomes, and Vietcombank also contributed to the rally. The performance suggests that domestic investors are rotating back into large-cap leaders, particularly in sectors closely tied to infrastructure, construction, and credit growth—key pillars of Vietnam’s 2026 economic outlook.

However, the rebound came despite sustained foreign net selling. Overseas investors offloaded a net VND 1,126 billion ($45 million) on the session. Technology giant FPT Corporation saw the heaviest net selling, exceeding VND 1,140 billion, followed by Vietcombank, VPBank, and Mobile World Group (MWG). Notably, Hoa Phat bucked the trend, attracting the strongest foreign net buying at more than VND 329 billion.

For international investors tracking Southeast Asia, the session highlights a key dynamic in Vietnam’s equity story: strong domestic liquidity can counterbalance foreign outflows, at least in the short term. With Vietnam pushing for a potential market upgrade and positioning itself as a manufacturing alternative amid shifting global supply chains, sustained earnings growth—not just retail enthusiasm—will determine whether this post-Tet rally evolves into a durable bull phase.

The question now is whether foreign funds will return to validate the momentum—or whether Vietnam’s next market leg higher will be powered primarily by its increasingly confident domestic investor base.

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Major holdings tied to Vingroup, big banks, and top retail giants fuel a broad market rebound — even as liquidity remains muted.

Vietnam’s equity market staged a strong rebound on November 26, driven by heavyweight stocks connected to some of the country’s most influential business empires. The surge highlights a pattern increasingly visible across Southeast Asia: while retail sentiment remains cautious, concentrated flows into billionaire-led conglomerates and banking pillars continue to dictate market direction.

The VN-Index climbed 20 points, closing above 1,680, despite intraday volatility. Green dominated the screen, though overall liquidity stayed subdued at around 23,000 billion VND, signaling that the rally was powered by selective large-cap buy-ins rather than broad-based conviction.

Within the VN30 basket, 24 stocks advanced, with notable gains above 2% in SSI, VPB, TPB, MWG, and MSN. Yet the biggest influence on the index came from familiar market heavyweights such as VIC, VIX, VPB, and GEX, reinforcing the outsized role of major conglomerates in Vietnam’s market movements.

Not every blue chip participated in the rally. Vietjet (VJC) abruptly reversed its recent winning streak, becoming the session’s biggest drag after falling 5.16%, shaving more than 1.5 index points from the VN-Index. Tech giant FPT and real estate leader VHM also closed lower.

Momentum extended across mid-cap names, with several stocks hitting their ceiling prices — including VPL, DCL, VSC, VNG, and Gelex-related tickers GEE and GEX. The real estate sector turned broadly positive as well, with DXGand CEO both up 4% and PDR and DXS rising more than 3%.

Foreign investors shifted sharply into net-buying mode, accumulating more than 628 billion VND. Key inflows targeted SHB, VPB, VIX, and MSN, while outflows focused on VCB, VIC, and VJC.

As the VN-Index edges further above resistance levels, investors are watching whether the market can sustain momentum without a meaningful pickup in liquidity. The day’s performance again raises a central question for Vietnam’s fast-growing capital market: will the next leg of the rally depend on broader participation — or will billionaire-linked blue chips continue to do the heavy lifting?

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VN-Index reverses sharply with nearly 250 decliners, signaling fragile sentiment and concentrated selling from both domestic and foreign investors.

Vietnam’s stock market suffered a broad-based selloff today, underscoring how fragile investor confidence remains in Southeast Asia’s second-largest equity market. After a strong start to the week fueled hopes of a breakout toward the 1,670-point resistance, the VN-Index instead reversed sharply as late-session selling overwhelmed early gains — a pattern increasingly common in emerging markets facing global rate uncertainty and inconsistent liquidity.

The VN-Index closed at 1,660, down more than 7 points, while the VN30 large-cap basket fell by a similar margin. Market breadth was deeply negative, with 248 stocks declining, triple the number of gainers. Analysts noted that the index stayed in the green for most of the session before an abrupt wave of selling hit in the final minutes, erasing all intraday momentum.

A handful of blue chips helped prevent a deeper correction. Vingroup stocks contributed over 3 positive index points, followed by gains in Vietjet (VJC), Vinpearl (VPL), and HDBank (HDB). But the banking heavyweights — including VPB, VCB, BID, and TCB — dragged the index lower, highlighting the sector’s dominant influence on Vietnam’s market dynamics.

Selling pressure was most acute in the securities sector, where SSI, VCI, VIX, and VND all fell more than 2%, reflecting traders’ sensitivity to short-term volatility and margin conditions. Banking stocks posted smaller declines, mostly in the 1–1.5% range, with HDB and LPB standing out as rare gainers. Real estate shares also faced sharp selling, especially among smaller-cap names such as SCR, HQC, and DIG, while only VIC and VPL managed to stay positive.

Liquidity surged to 27,000 billion VND, nearly 10,000 billion VND higher than the previous session — a sign that today’s decline was driven by aggressive selling rather than a lack of participation. Three stocks recorded over 1,000 billion VND in matched orders: SSI, SHB, and VIX.

Foreign investors extended their three-session streak of net selling, offloading more than 2,700 billion VND while buying roughly 2,400 billion VND. Their targets remained consistent: leading stocks in brokerage, real estate, and steel such as SSI, VRE, HPG, VCI, and VND.

Analysts at Yuanta Vietnam noted that the market remains stuck in a narrow trading band and has yet to confirm a decisive uptrend. Only a breakout above 1,670 points — a ceiling the index has repeatedly failed to clear — would signal a shift in momentum. Until then, Vietnam’s market appears destined for continued choppy trading, shaped by global macro currents and increasingly cautious local sentiment.

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The VN-Index slid below 1,650 after an 11-session foreign outflow streak, highlighting rising global risk aversion and mounting pressure on emerging markets.

Vietnam’s benchmark VN-Index ended its three-day rebound with a sharp pullback on Tuesday, dropping nearly 11 points to close at 1,649 as investors rushed to lock in profits amid intensifying foreign outflows. The index briefly touched 1,660 at the open—fueling hopes of a breakout—before selling pressure spread across the market and erased early gains.

The downturn was broad-based: more than 220 stocks on the Ho Chi Minh Stock Exchange fell, almost triple the number of advancers. Large caps fared no better, with 23 of 28 VN30 components finishing in the red. Trading value surged to more than VND 24.3 trillion, the highest in two weeks, as domestic investors absorbed heavy selling.

Brokerage stocks suffered the steepest decline, with every ticker in the sector closing below reference. VIX and VND led the losses, each tumbling around 3.7%. Real estate names followed in deep red territory, with NLG down 3.2% and small-cap developers such as LDG, DXG, HDG, and NBB sliding sharply. Only a handful—VIC, DIG, and DXS—managed modest gains under 1%.

Banks showed a mixed picture. TPB and VPB fell more than 2%, dragged down by concentrated selling. HDB emerged as the rare bright spot, rising 2.8% after news that major shareholder Sovico registered to sell over 65.6 million shares to comply with Vietnam’s credit organization ownership limits. The move helped stabilize the broader market during an otherwise weak session.

Meanwhile, foreign investors extended their selling spree to 11 consecutive sessions, withdrawing VND 650 billion—twelve times more than the previous day. VND became the top target with over 7.2 million shares sold, followed by DXG, MBB, and VPB. The persistent outflows add pressure to Vietnam’s currency, which is already facing seasonal strain as foreign-invested enterprises repatriate profits.

In a market update, Đặng Nguyệt Minh, Head of Research at Dragon Capital, warned that foreign withdrawal remains a key risk despite strong domestic liquidity. She noted that global capital is increasingly favoring developed markets due to higher relative returns and geopolitical uncertainty, reducing the appeal of emerging markets like Vietnam.

The setback interrupts Vietnam’s recent momentum and reflects a larger question facing Asia’s fast-growing markets: as global investors turn cautious and currency pressures build, can domestic capital continue to offset foreign selling—or will Vietnam’s rally stall before the next growth catalyst arrives?

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HO CHI MINH CITY, Nov 10 (Vietnam Insider) — Vietnam’s stock market closed sharply lower on Monday, with red dominating across nearly every sector as the VN-Index fell 18.56 points, or 1.16%, to 1,580.54, marking another session of downward pressure and investor caution.

The HNX-Index also slipped 0.74% to 258.18, extending the losing streak amid persistent foreign selling and weakening sentiment in large-cap stocks.

Market breadth remained deeply negative, with 432 decliners versus 248 gainers, while the VN30 basket — which tracks the 30 largest stocks — saw 21 losers and only six gainers.

Afternoon Reversal: Buyers Faded, Sellers Took Over

Although the VN-Index briefly recovered above its reference point early in the afternoon, renewed selling pressure quickly erased gains, driving the benchmark to close at its session low. Vinhomes (VHM), FPT, Vietcombank (VCB), and VietinBank (CTG) were the biggest drags, collectively shaving 8.4 points off the index.

On the upside, Hoa Phat Group (HPG), Techcombank (TCB), SSI Securities, and Bao Viet Holdings (BVH) managed modest gains, contributing about 1.8 points to the index.

Trading volume fell from the previous session, with 656 million shares changing hands, worth VND 18.8 trillion (USD 740 million) on the HOSE. The HNX saw 72.5 million shares traded, valued at VND 1.5 trillion (USD 60 million).

Sector Breakdown: Technology Takes the Hardest Hit

Selling pressure hit most sectors, with information technology leading the downturn — plunging 4.49% as heavyweights like FPT (-4.75%), CMG (-3.09%), and DLG (-4.14%) tumbled.

The industrial and real estate sectors followed, down 2.06% and 1.87%, respectively. Notable losers included GEX (-6.94%), VHM (-5.54%), VRE (-4.94%), DXG (-3.44%), and KDH (-1.54%).

Even traditionally defensive sectors such as finance and energy weakened, shedding 0.55% and 1.28%.

In stark contrast, media and consumer services stood out as the only green sector, edging up 0.48% thanks to gains in Masan Consumer (MCH +3.36%), ANV (+1.47%), and HNG (+1.75%).

Foreign Investors Continue to Sell

Foreign investors extended their selling streak, offloading a net VND 206 billion (USD 8.1 million) on the HOSE, led by sharp disposals in HDBank (HDB -118 billion), Vincom Retail (VRE -82 billion), KDH (-81 billion), and FPT (-72 billion).

On the HNX, foreigners sold a net VND 111 billion, with SHS, CEO, and PVS among the most heavily traded targets.

Intraday Snapshot: Failed Recovery Attempts

During the morning session, the VN-Index briefly rebounded near the 1,600-point mark, but the rally quickly lost momentum. By mid-session, the index slipped 6 points (-0.38%) to 1,593.08, with sellers dominating 60% of the board.

While liquidity improved slightly — up more than 30% from the previous session — the buying interest proved too weak to counter persistent profit-taking in blue-chip stocks.

The morning’s top decliners included VHM, CTG, and FPT, while VIC, LPB, and HPG provided minor upward support.

Market Outlook: Testing Lower Support

Analysts warn that the VN-Index is “still in the process of finding a bottom,” with investor sentiment fragile and foreign outflows adding pressure. Key support is seen around 1,570 points, though sustained selling in property and technology could deepen short-term losses.

Still, modest strength in banking and consumer shares may offer limited stabilization if macroeconomic data — including inflation and credit growth — remains supportive through November.

Vietnam’s equities are struggling to regain footing after a month-long correction, as institutional selling, weak tech sentiment, and risk aversion continue to drag major indices lower. The coming sessions will test whether the market can hold the 1,570–1,580 range, or slide further before bargain hunters return.

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Three-day losing streak wipes nearly 70 points off benchmark amid broad sell-off in banking, real estate, and brokerage shares.

Vietnam’s stock market began the week deep in the red as the VN-Index plunged nearly 23 points Monday, marking its third consecutive session of steep losses and dragging the benchmark down almost 70 points in total. Despite an early rebound attempt that briefly pushed the index up over 10 points, selling pressure quickly intensified in the final half hour of trading, sending the index tumbling to 1,617 points — its lowest level in more than a month.

The Ho Chi Minh City Stock Exchange was flooded with red, with 240 stocks declining and barely a third that number advancing. Large-cap shares suffered a similar fate: 23 of 30 blue-chip stocks closed lower, signaling a broad-based retreat across key sectors.

Brokerage firms were hit hardest as investors offloaded shares aggressively. The entire securities group finished below reference levels, with typical declines of 3–5%. VIX led the slump, hitting its floor price of VND 26,050 (USD 1.03) with a massive sell surplus of 13.5 million shares. Bank stocks also came under pressure, with SSB the lone gainer. STB dropped 5.8% to VND 52,300, while HDB, TCB, and VPB each fell more than 3.8%.

The real estate sector saw widespread liquidation, with several developers including DXG, DXS, NLG, CII, and HDC hitting their daily downside limits. Yet a few outliers bucked the trend — notably QCG, which surged to its ceiling price of VND 14,150 with strong buying volume exceeding 600,000 shares. Losses extended across other major industries, from fertilizers and oil & gas to aviation, steel, and seaports.

Despite the sell-off, market liquidity remained strong, with total trading value on the Ho Chi Minh exchange rising to VND 29 trillion (USD 1.15 billion), up nearly VND 2 trillion from Friday. FPT led in trading turnover at over VND 2.2 trillion, followed by VIX, SSI, SHB, and HPG. Foreign investors — who had dumped over VND 1 trillion in previous sessions — eased their selling, recording a net outflow of just VND 137 billion, while net buying in FPT reached roughly 2.4 million shares.

Analysts warn the short-term trend remains bearish, though technical indicators suggest a potential rebound once the VN-Index stabilizes above the 1,620-point threshold. Market strategists recommend investors avoid chasing short-term rallies fueled by large-cap momentum and instead consider selective, low-exposure entries (20–40% of portfolio allocation) in defensive sectors such as chemicals, oil & gas, or infrastructure-linked stocks poised to benefit from Vietnam’s public investment push.

The VN-Index’s sharp decline underscores how fragile investor sentiment remains amid regional volatility — but for contrarian investors, Vietnam’s correction could be the next quiet setup for a recovery trade.

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HANOI, Oct 31 (Vietnam Insider) — Vietnam’s stock market ended October on a downbeat note, as selling pressure in property and financial stocks wiped nearly 2% off the benchmark VN-Index, pushing it below the key 1,640-point threshold.

The VN-Index plunged 29.92 points, or 1.79%, to close at 1,639.65, while the HNX-Index slipped 0.42% to 265.85. Market breadth turned sharply negative, with 414 decliners versus 330 gainers. Blue-chip stocks were no refuge: 21 of the 30 largest firms in the VN30 basket closed lower.

Trading activity picked up, signaling stronger selling momentum. More than 777 million shares changed hands on the Ho Chi Minh Stock Exchange, worth about USD 970 million, while the Hanoi exchange saw USD 71 million in turnover.

The late-session rebound attempt failed to hold, as heavyweight property and banking names—Vingroup (VIC), Vinhomes (VHM), Vietcombank (VCB), and VietJet (VJC)—collectively erased over 18 points from the VN-Index. Only a handful of gainers such as PetroVietnam Gas (GAS), GVR, Asia Commercial Bank (ACB) and FPT Corporation managed to add a modest 2.7 points.

The real estate sector was the hardest hit, tumbling 4.2%, with Vingroup down 6.4%, Vinhomes down 4.6%, and VRE falling 3.8%. Financials and industrials followed, shedding 1.4% and 1.1%, respectively. In stark contrast, media and telecommunications stocks stood out as the only bright spot—rising 4.4%—thanks to gains in Viettel Global (VGI), VNZ, and FOC.

Foreign investors continued their month-long sell-off, offloading another USD 18 million on the Ho Chi Minh exchange, led by heavy net sales in VIC, VHM, VietinBank (CTG), and MBBank (MBB). On the Hanoi bourse, they sold a further USD 2.3 million, mainly in energy and construction plays like PVS and CEO Group.

In total, foreign investors have pulled out more than USD 910 million from Vietnamese equities in October, primarily from large-cap names such as MBB, SSI, Masan Group (MSN), and CTG.

Earlier in the day, the index briefly hovered around 1,650 points as energy shares staged a rare rally. Oil and gas producers including PV Drilling (PVD), BSR, Petrolimex (PLX), and PetroVietnam Technical Services (PVS) climbed 1–3%, bucking the broader market decline. However, the rebound was short-lived as selling pressure resumed across real estate and financial stocks by late morning.

The sharp pullback underscores a fragile sentiment among investors, who remain cautious amid rising volatility, continued foreign outflows, and mounting concerns about the health of Vietnam’s property sector.

Analysts say that unless liquidity improves and foreign investors return to buying, the VN-Index could struggle to reclaim the 1,650–1,670 range in the near term.

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(Vietnam Insider) – Vietnamese equities closed the week lower, with the VN-Index slipping nearly 7 points to mark its fourth consecutive losing session, despite some support from Vingroup shares.

The benchmark opened in positive territory during the ATO session but quickly fell below reference. In the first half of the morning, selling pressure was contained, with losses concentrated in the VN30 basket. However, an hour before the midday break, broader selling dragged the market further down.

The afternoon session showed mild improvement, driven mainly by real estate stocks. At one point after 2 p.m., the index nearly returned to its reference level before late-session selling again weighed on the market.

The VN-Index eventually closed at around 1,659 points, down nearly 7 points from Thursday. This marked the fourth straight decline. Market breadth was negative, with 189 losers against 133 gainers, though 10 stocks still hit their daily ceiling, including GEE and QCG.

Sector performance

Red dominated most sectors, especially banking and securities, which typically attract heavy capital flows. In contrast, real estate provided a cushion for the index.

Vingroup’s VIC was the top contributor, rising 5.7% to VND 153,200 with liquidity of nearly VND 832 billion. Other notable gainers included NVL (+5.6%), while CII, CEO, and SCR added 2–3%. However, some property names such as VHM, VCG, VRE, and KBC remained under pressure.

Liquidity and foreign flows

Market liquidity increased by about VND 1.4 trillion to VND 29.2 trillion, though still modest compared to earlier sessions that reached the equivalent of USD 2 billion. This indicates adjustment pressure but no signs of panic selling.

Foreign investors were net sellers for a fifth session, unloading roughly VND 2.8 trillion—up 86% from the previous day. Heavy outflows hit VHM, SSI, STB, VIX, VCB, VRE, VND, DGC, and KBC. On the buy side, FPT and HPG attracted strong inflows.

Weekly trend and outlook

During the week, the VN-Index attempted to retest its previous peak of 1,700 points but failed, instead moving sideways with wide fluctuations. The benchmark lost nearly 9 points for the week, with only the first session posting gains.

Falling liquidity in the last two sessions signals growing investor caution. Vietcombank Securities (VCBS) noted that investors are leaning toward observation, awaiting clearer catalysts. VPBank Securities (VPBankS) advised that a prudent strategy is to focus on short-term trading in fundamentally strong stocks with solid bases, while avoiding aggressive portfolio expansion.

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Vietnam’s benchmark VN-Index ended lower on Tuesday after a volatile session, closing down nearly 10 points as strong selling pressure hit key sectors, particularly banking and securities.

Throughout the trading day, the index repeatedly swung between gains and losses within a narrow five-point range. Toward the close, selling pressure intensified, pushing the VN-Index down to 1,671 points, marking its second consecutive session of decline.

The broader market turned sharply negative, with more than 200 stocks falling—nearly double the number of advancers. Large-cap stocks showed a similar pattern, with 19 declining and only 10 gaining.

Key Sector Moves:

• Banking: Heavyweights led the downturn. BID lost 2.5%, while VPB, CTG, VIB, MBB, and TCB fell between 1.7–2.2%. Only LPB and STB bucked the trend with modest gains.
• Securities: The entire group was painted red. VIX plunged nearly 4%, VND lost 2.9%, and SSI reversed early gains to close 2.4% lower.
• Fertilizers: Selling also pressured this group, with DPM down 2.2% and DCM slipping 0.9%.
• Real Estate: Mixed performance. Mid-caps such as NVL, NLG, and KDH dropped 1.3–2.5%, while smaller-cap names like HQC, QCG, LDG, and SCR surged. The “Vingroup family” of stocks outperformed, helping cushion the index from steeper losses.

Market Liquidity & Foreign Flows:

Liquidity dropped sharply, with trading value down by about VND 9 trillion to VND 32.5 trillion. Steelmaker HPGtopped liquidity with over VND 3.68 trillion in matched orders—more than FPT and SSI combined.

After a session of net buying, foreign investors returned to selling, offloading over VND 3.22 trillion against disbursements of nearly VND 3.1 trillion. VPB was the main target, with around 3 million shares sold, followed by SSI, DXG, and VND.

Brokerage firms noted that while the VN-Index declined, the short-term outlook remains cautious rather than outright negative. Analysts expect the market to continue consolidating ahead of the U.S. Federal Reserve’s interest rate decision and the upcoming ETF portfolio rebalancing. A clearer trend is likely to emerge only if the index breaks above 1,690 points or falls below 1,650 points.

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Source: Vietnam Insider

Vietnam stocks tumbled by the most since April as leveraged traders exited positions on concerns about liquidity shortages spreading in the property sector.

The benchmark VN Index — which has become the world’s worst-performing major gauge — dropped as much as 5.1% on Thursday, driven lower by property and banking shares. Real estate firm No Va Land Investment Group (HoSE: NVL) slumped 6.9% in its seventh consecutive day of declines. Vietnam Joint Stock Commercial Bank for Industry and Trade (HoSE: CTG) lost nearly 7%.

Investors are growing increasingly concerned about the credit crunch that’s spreading across the property sector, in part due to a sweeping regulatory probe on bond issuances and higher lending rates. Earlier this week, No Va Land — the nation’s second-largest listed developer — was reportedly restructuring its business amid the widening crackdown.

“Margin call pressure is very high and forced investors to sell off and the panic quickly spread across the board, no matter whether the stocks are good or bad,” said Phung Trung Kien, founder of asset management firm Vietnam Holdings Inc. “Sentiment is very weak while there is no supporting information at the moment.”

Credit Crunch Rocks Vietnam’s No. 2 Developer as Woes Spread

Property developers are now struggling to access capital and potential home buyers face tightening credit as the State Bank cautions against risky real-estate sector loans. Vietnam’s corporate bonds sales have dropped by 50% this year given the increased scrutiny, according to the local bond association.

Those problems are hurting an economy that’s struggling to keep inflation under control as well as manage its growing debt burden. The VN Index is down more than 37% this year.

@ Bloomberg

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Source: Vietnam Insider