In the trading session on October 23, the selling pressure was restrained, helping stocks recover positively, especially bluechip stocks, and the VN-Index approached the 1,700 point mark.
The main index increased mainly thanks to the attraction of the "one" group of Vingroup stocks when contributing a total of 12 points to the increase. At the end of the session on October 23, the VN-Index increased by nearly 9 points, thereby reaching 1,687 points. Liquidity on HoSE decreased sharply, the matched value reached VND22,760 billion.
Foreign transactions continued to be a minus point when they sold a whopping VND1,451 billion in the whole market. On the HOSE floor alone, foreign investors net sold approximately VND1,257 billion.
After buying, FPT shares were "gom" the strongest foreign investors in the whole market with a value of 235 billion VND, HDB and VJC were also net bought for 187 billion and 115 billion VND respectively.
In the opposite direction, foreign investors "disbursed" the strongest in CTG shares with a value of VND 263 billion; Next, VHM, MSN and SSI stocks were net sold by foreign investors for VND 209 billion, VND 165 billion and VND 129 billion respectively.
After a record decline of nearly 100 points, the recovery process with liquidity on a low base continued to show a cautious psychological state and the market expected to soon have supporting information to return to the recovery trend.
The picture of business results in the third quarter of 2025 is gradually being revealed, in which, some businesses reported very strong interest growth. The most prominent is the group of securities companies. The profits of the securities company group broke out strongly in the third quarter of 2025. According to VietstockFinance data, the total after-tax profit of 81 securities companies reached nearly VND15,200 billion. This result increased by more than 80% compared to the previous quarter and increased by 170% compared to the same period last year. With this result, the group of securities companies has set a new record for quarterly profit, surpassing the figure of VND 8,600 billion in the fourth quarter of 2021.
The cash flow into the market continues to show strong differentiation and only focuses on stocks with expected positive business results in the medium and long term, benefiting from the shift of capital flows from financial institutions operating in emerging markets. Meanwhile, the fact that some groups of stocks are "standing still" comes from information that has been reflected in the previous increase.
Currently, the valuation of the whole market is fluctuating around P/E 16 times and P/B 2.2 times, starting to surpass the 10-year trung tam of the VN-Index. However, with positive business results expected to be announced in the third quarter of 2025, the valuation (P/E and P/B) of the general market and listed enterprises in particular will return to a reasonable neutral level. This strengthens the market price base after the recent quite strong growth period.
In addition to the group of Vingroup stocks that increased sharply, there were also many other large-cap stocks that increased positively, coming from expectations of a market upgrade story, along with strong growth momentum of the economy and a separate story for each stock, especially the expectation of bright profit prospects of many businesses in the last quarter of the year.
