HANOI, Nov 5 (Vietnam Insider) — Vietnam’s stock market ended Wednesday’s session slightly higher, but beneath the surface, most stocks remained in the red — a pattern local traders call “green shell, red core”. The VN-Index edged up to 1,655 points, driven primarily by a strong rally in Vingroup (VIC) shares.
Vingroup’s stock surged 2.74% to VND 206,500 (USD 8.15) per share, contributing more than 4 points to the benchmark index and making it the most positive influence on the market. Trading value in VIC reached nearly VND 439 billion (USD 17 million). Its hospitality arm Vinpearl (VPL) also gained 0.13%, extending the group’s upward momentum.
However, the rally wasn’t uniform across the Vingroup ecosystem. Shares of Vincom Retail (VRE) and Vinhomes (VHM) fell 2.99% and 0.6%, respectively, dragging on the broader index.
The divergence came as Forbes updated its billionaire rankings, showing Pham Nhat Vuong, chairman of Vingroup, seeing his net worth rise by USD 0.8 billion to USD 19.3 billion, placing him 125th globally — reflecting renewed investor optimism in his flagship conglomerate.
Despite the VN-Index’s green close, market breadth remained negative. On the Ho Chi Minh Stock Exchange (HoSE), 190 stocks declined while only 121 advanced. The HNX Index saw a similar trend, with 82 losers against 62 gainers, signaling continued caution among investors.
Several major blue chips — including Techcombank (TCB), Hoa Phat Group (HPG), FPT Corp (FPT), Asia Commercial Bank (ACB), and VPBank (VPB) — were among the top decliners weighing down the market.
Meanwhile, foreign investors turned net sellers again, offloading nearly VND 808 billion (USD 32 million) worth of equities. The heaviest selling pressure was seen in TCB, VRE, GEX, STB, VCB, VHM, SSI, and VIX.
Market analysts said the session highlighted a continued sectoral divergence, where select large-cap stocks — particularly in real estate and consumer sectors — helped prop up the index even as underlying sentiment remained fragile.
“This kind of market behavior reflects rotational capital flows,” one Ho Chi Minh City-based broker said. “Investors are selectively betting on stocks with strong fundamentals, but overall liquidity remains cautious.”
With VIC’s rebound providing short-term support, investors will be watching whether the broader market can sustain momentum beyond a few isolated gainers — or whether foreign selling and weak breadth will continue to cap the rally.
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Source: Vietnam Insider