In the morning session of May 27, VN-Index continued to fluctuate around the 1,860-1,890 point zone with liquidity maintained below the 20-session average. However, pressure from the Vingroup group caused the index to decrease by nearly 16 points.
Entering the afternoon trading session, VN-Index continued to struggle around a narrower range of 1,860-1,875 points with liquidity still maintained at an average level. However, VIC was a factor that helped VN-Index significantly narrow the decline at the end of the session when the decrease range shrank compared to the morning session.
Closing the session on May 27, VN-Index decreased by 9.75 points (-0.52%) to 1,874.43 points with 142 gainers and 174 losers. Total trading volume reached 830.5 million units, value 24,223.5 billion VND, up 13.8% in volume and 22.7% in value compared to yesterday's session.
Foreign investors continued to net sell on HOSE with a net selling value of more than 810 billion VND, focusing on HPG and a large number in the real estate, banking, and technology sectors. While buying power appeared in some other bank codes such as ACB, MSB, TPB.
Regarding the impact of stock groups, VIC decreased from 2.86% in the morning session, closing the afternoon session with only a decrease of 1.03% to VND 210,800, matched with 4.5 million units. Meanwhile, VRE decreased by 4.43% to VND 31,250, matched with 6.5 million units, VPL decreased by 4.18% to VND 91,700 and VHM decreased by 4.16% to VND 147,400, matched with 7.4 million units.
In industry groups, the banking group, green color was more than in the morning session and prevailed over red color. OCB was the strongest gainer in the group and eased the increase momentum, closing at +5.73%, up to 12,000 VND. In addition, there were 5 codes increasing from more than 2.2% to nearly 2.8% (TCB, MSB, SSB, VIB and TPB), while in the morning session no code increased more than 2%.
Market developments show that although VN-Index significantly narrowed its decline towards the end of the session, demand in general is still selective, mainly concentrated in the banking group and some large-cap stocks. Liquidity has improved but has not shown a boom in bottom-fishing cash flow, showing that investor sentiment is still quite cautious.
Experts predict that strong differentiation is likely to continue. Investor sentiment is becoming more cautious due to the "Sell in May" effect and information gaps after the Q1/2026 financial reporting season. This may cause fluctuations to appear more frequently, especially in the context that the market had a strong increase before from the end of Q2 or the beginning of Q3/2026, when macroeconomic factors gradually stabilize and market upgrade expectations are more clearly reflected in stock prices, cash flow may begin to spread more positively, instead of only focusing on a few industry groups.
The biggest driving force of the market in the coming period is expected to come from FTSE Russell's upgrade roadmap in September 2026. In addition, market valuation is still considered attractive if excluding the impact from the Vingroup group. Accordingly, the market P/E ratio is currently about 12 times, significantly lower than the 5-year average of about 16 times.
Regarding investment strategy, the stock market is unlikely to increase in a row but will continue to differentiate. Therefore, investors should take advantage of adjustment phases to disburse into stocks with good fundamentals, attractive valuations and not increasing too strongly.
Investors should choose times when the market adjusts, when most stocks on the market have attractive prices, except for some groups that have increased sharply.This is a good disbursement opportunity to anticipate waves such as Q2, Q3/2026 business results, market upgrade expectations and positive macroeconomic information.
