The Vietnamese stock market at the end of the trading session fluctuated quite strongly. VN-Index had a time to decrease by more than 26 points before narrowing down towards the end of the session on September 19.
The VN-Index, after efforts to hold the 1,650-point mark, rebounded and approached the reference when supply was reduced and many midcap stocks increased their upward momentum, as well as VIC stocks suddenly increased strongly to support.
At the end of the year, the VN-Index decreased by 6.56 points to 1,658.62 points. The matched value on HOSE reached VND 27,262 billion. Thus, at the end of the trading week, the total VN-Index decreased slightly by more than 8.5 points, equivalent to -0.51%.
No longer affected by the derivatives expiration session, the market still showed strong "drowning" developments in the second half of today's afternoon session.
Today's session is also the last day of the 3 funds VanEck Vectors Vietnam ETF, Xtrackers Vietnam Swap UCITS ETF and ETF Fubon to complete the portfolio restructuring. In that context, foreign investors continued to have a sudden net selling momentum of VND3,029 billion in the whole market.
VIC shares in today's session continue to be the main support, after a period of fluctuations in the morning session, they have skyrocketed, closing +5.7% to VND 153,200, matching more than 5.61 million units and contributing nearly 8 points to the VN-Index. Other green colors in the bluechip group only have MWG and HPG light blue, along with LPB +2.4% to 46,500 VND.
On the other hand, many stocks have expanded their downward momentum, although in general they have not decreased too shockingly, with STB leading when losing 3.2% to 55,200 VND. Followed by SSB, DGC, BID, VRE, VNM decreased by 2% to 2.5%. VHM shares have lost more than 3% at times to only -1.7% down to VND 101,700, matching 7.55 million units.
vua and small stocks with a cash flow attraction part, such as GEE, TN1, QCG, increased the ceiling with high liquidity.
According to analysts at AIS Securities Company, the low liquidity of the whole market is a cause for concern. If liquidity continues to not improve (at least exceeding the average of 55 trillion/session on the HOSE floor), it will certainly negatively affect the current recovery and increase trend of the market. The best support at this time is the 1,585-1,600 point zone. If this zone is lost, the upward trend formed from April 2025 will end.
Dr. Nguyen Duy Phuong, Investment and Strategy Director of DG Capital, said that the fluctuations will continue in the short term due to the supply around the historical peak in addition to the effect of the net selling status of foreign investors.
This expert recommends that investors need to consider the portfolio structure when the VN-Index heads towards the old peak. For market trends to improve, there needs to be new growth momentum. This needs to be based on basic valuation factors and growth prospects in the final period of the year and needs to be carefully evaluated based on the business results forecast for the third quarter of 2025.
Investors maintain a reasonable proportion. The investment goal is to target codes with good fundamentals, industry leaders in strategic industries, and outstanding growth of the economy.
