The stock market will have a long holiday, trading will only have two sessions next week, so experts predict that it is likely to trigger short-term orders to reduce stock proportions.
Fluctuations as predicted took place early yesterday, April 24th, with red color somewhat dominant on the electronic board. The stocks that put the most pressure on the index were VHM, VIC, VCB codes when taking away a total of more than 14 points of the index. Accordingly, VHM stock decreased the most -5.2% to 141,200 VND, VCB -3.5% to 60,600 VND, VIC -1.1% to 212,100 VND/share. Red color also spread more widely in the VN30 basket, with BID, VPL, SAB decreasing by more than 2%,
At the end of the trading session on April 24, VN-Index decreased by 17.07 points (-0.91%), to 1,853.29 points. Total trading volume reached more than 673.8 million units, worth 19,347.9 billion VND, down 35% in volume and 34% in value compared to yesterday's session. Block transactions contributed more than 105 million units, worth 2,002 billion VND.
Ending the trading week from April 20, the VN-Index still recorded an increase of 36.12 points, equivalent to +1.98% and recorded the fifth consecutive week of increase.
What investors are most interested in today is why large cash flow is still outside the market? Many opinions suggest that when deposit interest rates decrease, in theory, the savings channel becomes less attractive, thereby promoting cash flow to shift to riskier assets such as stocks and real estate.
In fact, this trend is well-founded, especially when loose monetary policy also helps improve business profit prospects, thereby increasing the attractiveness of the stock market. However, if we expect cash flow to return immediately, it is still too early.
Notably, according to statistics, as of the end of the first quarter of 2026, outstanding loans (including margin and advances from sales) at securities companies are estimated at more than 420,000 billion VND, an increase of about 9,000 billion VND compared to the end of 2025 and a record high ever. In which, outstanding margin loans are estimated at about 405,000 billion VND, an increase of 13,000 billion VND after the first quarter of the year and also the highest figure in the history of Vietnamese stocks.
Experts assess that in the context of the strong volatility of the stock market in recent times, liquidity has been boosted, thereby creating opportunities for margin balance to continue to increase. The demand for margin use by investors is often at a high level, especially after market sessions of deep correction and many stocks returning to attractive valuation zones, which also helps margin balance set a record.
However, in the current period, market liquidity has not really recovered as expected. In addition to the session on April 8, 2026 when FTSE Russell confirmed that Vietnam passed the review period, the market increased sharply in both points and liquidity, the subsequent increase of more than +100 points (from 1,740 points to nearly 1,850 points) seems to have no participation of large cash flow.
In that context, according to the assessment of some experts, the phenomenon of many securities companies having large outstanding loans but disproportionate market share is reflecting the reality that a significant amount of margin does not serve the purpose of trading.
In other words, this lending activity does not completely provide leverage for individual investors, a significant amount is reserved for organizations, business leaders, and major shareholders to use for other purposes.
