The Vietnamese stock market closed the session on January 6 with a bright development. Cash flow spread across many stock groups. In the overall picture, the "family" Vingroup stock group is still the focus with the Vinhomes (VHM) and Vincom Retail (VRE) duo purple ceiling creating strong pull for the index. In addition, the oil and gas group continued to flourish, while the banking group also agreed to move up, playing the main driving force.
Closing the trading session on January 6, VN-Index increased by 27.87 points (+1.56%), to 1,816.27 points. Total trading volume reached more than 956.9 million units, value of 27,445.2 billion VND. The 1.6% increase also pushed the capitalization of HoSE floor to increase by 130,000 billion VND, close to the threshold of 8.5 million billion VND.
VHM and GAS, PLX stocks are still bright spots. In which, VHM increased by 6.8% to 141,600 VND, PLX edged up more than 4% to 37,850 VND and GAS increased by 6.9% to 82,700 VND. Along with that, GVR stock, leading the upward momentum in the VN30 group, touched the ceiling price, increasing by 7% to 27,550 VND. In total, the above codes contributed nearly 14 points to the VN-Index.
Other bluechip stocks with BCM, VJC, VRE increased by 2-3%, while VNM, TPB, LPB only had modest increases.
Foreign investors' transactions are a minus point when they net sold about 520 billion VND. On HOSE, foreign investors net sold 387 billion VND. VIC is the stock that foreign investors sold the most with 425 billion VND. Following that, VHM and DXS stocks were also sold 297 billion VND and 208 billion VND.
On the buying side, MBB shares were bought the most by foreign investors on HOSE with a value of more than 307 billion VND. Following, VPB was the next code to be strongly accumulated 166 billion VND. In addition, GEX and VRE were also bought for 101 and 97 billion VND respectively.
The stock market in 2026 is assessed by experts as likely to move in a more differentiated direction, instead of spreading evenly.
Cash flow tends to focus on industry groups associated with internal growth drivers and play a fundamental role in the economy. The Vingroup stock group has had outstanding price increases and created a sudden impact on the VN-Index in 2025; therefore, in 2026, the possibility that this group will be subject to adjustment pressure and negative impacts on the general index is a scenario that needs to be considered.
Rong Viet Securities Company forecasts that VN-Index may target the target range from 1,712 to 2,032 points in the next 12-14 months. This scenario is built on the assumption that EPS (profit per share) in 2026 will reach about 137-140 VND, corresponding to an increase of 15-19% compared to the same period, along with the target P/E (market price/profit) valuation in the range of 12.5-14.5 times.
Rong Viet Securities Company also noted that the ownership ratio of foreign investors on the HoSE is falling to the lowest level in three years, while the holding value is still high. This shows that the ownership structure is centralized, especially in the financial - banking stock group. In that context, just by appearing appropriate catalysts, the elasticity of capital flow can be significantly improved.
In addition to the capital flow factor, the Government is promoting the process of transparency and developing transaction infrastructure, thereby strengthening the investment environment. The legal documents system is expected to take effect from 2026 towards standardization, improving transparency and operating standards of the market.
The roadmap for implementing CCP (central compensation partner) and technical upgrade items is considered the foundation for the " sprint" towards the goal of upgrading the market according to FTSE standards, with evaluation and operational verification periods taking place in 2026.
