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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Source: Vietnam Insider