Vietnam’s benchmark VN-Index climbed for the fourth straight session on Monday, fueled by strong inflows into steel, banking, and securities stocks, helping the market recover from last week’s sharp 70-point drop.
Ahead of the session, many brokerages expected heavy volatility and possible declines after multiple recovery days on weak liquidity. Instead, the index stayed in positive territory throughout the day and widened its gains toward the close.
By the end of trading, the VN-Index had added more than 17 points to finish just below 1,685.
On HoSE, nearly 240 stocks advanced — three times the number of decliners. Large-cap stocks also saw broad gains, with 22 rising against just six losers.
Key market movers
- Banks in focus: BID (+3.1% to VND 42,200) was the top contributor to the index, followed by CTG and TCB.
- Securities rally: Securities stocks surged after the government approved a plan to upgrade Vietnam’s market status. VIX hit the ceiling at VND 37,450, while VND, VCI, and HCM all rose more than 1%. SSI, initially pressured by foreign selling, reversed to end +0.7%.
- Steel strength: The steel group gained 0.5–2.8%. HPG briefly rose 3% to near VND 31,000 before profit-taking trimmed gains to around 1%.
- Energy stocks: Oil & gas leaders GAS (+1.1%) and PLX (+0.4%) also closed higher.
- Other sectors: Aviation, retail, rubber, and energy names also contributed positively.
Market liquidity showed signs of improvement, with more than 1.24 billion shares traded — up 10% from last Friday. Trading value edged above VND 37.6 trillion, with large-cap stocks accounting for nearly VND 20 trillion.
HoSE saw seven stocks exceed VND 1 trillion in trading value. HPG led with VND 2.7 trillion, followed by VPB with VND 2 trillion, while VIX, SSI, SHB, and MSN also ranked high.
Despite the rebound, foreign investors extended their selling streak to a fifth session, offloading over VND 1.3 trillion net. FPT was the most heavily sold (over 6 million shares), followed by HPG, MWG, VND, and NVL.
MB Securities (MBS) expects the short-term trend to remain upward, though the market may see turbulence this week due to ETF rebalancing and derivatives expiration. Large-cap stocks could face pressure, with money likely rotating into mid- and small-cap names.
MBS identified the current support zone at 1,600–1,615 points, with resistance at 1,694–1,700 — about 10–15 points above the present level.
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Source: Vietnam Insider