The Vietnamese stock market continued to experience a volatile trading week when selling pressure still prevailed. Although at times bottom-fishing demand increased, helping VN-Index recover significantly from the bottom and regain a part of the points, however, the recovery momentum did not last long when profit-taking pressure quickly returned, causing the index to weaken in the last sessions of the week.
Closing the trading week, VN-Index stopped at 1,787.45 points, down 40.89 points compared to the previous week. Accumulated to the last session of the week, the average matched order volume on the HOSE exchange reached 651 million shares/session, down more than 1.5% compared to the previous week, the average trading value reached 16,541 billion VND/session, down nearly 6%.
In the past week, HOSE welcomed newcomer VBB of Vietnam Thuong Tin Commercial Joint Stock Bank. Accordingly, more than 1.07 billion VBB shares had their first trading session on July 14 with a reference price of 13,300 VND and this stock increased slightly by 2.3% and continued to increase by 4.8% and 1.8% in the following two sessions, before standing at the reference price at the last session of the week at 14,500 VND.
Thus, VBB shares had their first week on the exchange increasing by more than 9%. However, liquidity was quite low with only 0.1 million to 0.4 million units matched in sessions.
Regarding the level of impact in the last session of the week, VIC was the stock that put the most pressure on VN-Index when it took 4.91 points, followed by VHM, VCB and BSR, also causing the index to lose a total of 4.7 points. In the opposite direction, VNM was the most prominent bright spot when contributing 1.31 points to the general index.
Most industry groups closed the last session of the week in red. The energy group "bottomed the bottom" with a decrease of 3.07%, under pressure from a series of oil and gas stocks such as BSR (-4.23%), PLX (-1.95%), PVS (-1.29%), PVT (-2.43%), PVC (-2.27%) and PVD (-1.76%).
In addition, the real estate group also recorded a less positive development when it decreased by 1.33%, with a series of large-cap stocks sinking into red.
On the HOSE exchange, more than half of the best-growing codes had an increase of only around 6%, reflecting a difficult trading week even for short-term profit-seeking investors.
In the second half of 2026, many experts believe that investors need to monitor three main factors including the developments of conflicts in the Middle East, the net selling trend of foreign investors and the domestic interest rate level. If these factors do not develop more negatively than expected, in the context of continued economic growth, positive corporate profits and attractive market valuations, Vietnamese stocks will still have more room for growth.
The biggest challenge today is still the high interest rate level, which puts pressure on many investment channels, including securities. However, the quality of listed companies is still being positively assessed, profit prospects are positive, and market valuation is in an attractive range.
Interest rates can hardly be maintained at a high level for a long time because it will push the capital costs of the economy too high.When interest rates gradually cool down, the stock market will have conditions to recover, especially in the group of quality stocks trading below a reasonable value.
