Yesterday's (May 11) stock market decline brought many warning signs that the upward trend had stalled after a strong increase and established a historical peak in the last session of last week.
Many experts have predicted that the market is likely to enter a short-term correction phase to rebalance supply and demand.However, in the context that the medium-term uptrend structure has not been broken, the current correction phase is assessed as healthy.
Entering the morning trading session today (May 12), the tug-of-war was only maintained in the early stages.The VN-Index continued its strong decline towards the end of the morning session as selling pressure became increasingly large.
Closing the morning session of May 12, the VN-Index recorded a decrease of nearly 16 points to 1.879,8. The market breadth gradually expanded to decrease, when the number of declining stocks increased to nearly 330. Conversely, the number of increasing stocks was more than 270. The red color has spread widely in most industry groups.
Market liquidity weakened towards the end of the morning session. The total market trading value was only nearly 9,800 billion VND. Foreign cash flow is still maintaining net withdrawal. In the morning session, this block net sold nearly 600 billion VND.
VIC shares decreased by nearly 3%, with the current proportion, this code only needs to fluctuate slightly to cause the index to change significantly. With this decrease, VIC is pulling VN-Index down more than 10 points. Along with that, VHM also pulled the index down 2 points.
In the opposite direction, other pillar stocks such as LPB, STB, VRE, HDB, BSR... only pulled the index up by nearly 3 points. Notably, GEE recorded a decrease of more than 6%. This is the first sign of decline after a continuous increase from the end of April to now. With them, GEX closed the morning session at the reference level.
In the general context of quite sluggish trading, cash flow is showing signs of shifting to the real estate stock group, helping many codes to trade brightly and actively in this morning session.
According to the assessment of TPS Securities Company (CTCK), VN-Index has temporarily failed to test the resistance zone around 1.925 points. The market may enter a short-term correction phase to rebalance supply and demand.However, this securities company assesses that this is a healthy correction phase as the medium-term uptrend has not been broken.Close support zones are identified around 1.865 points and 1.
840 points.SHS Securities Company puts forward the view that VN-Index still maintains a short-term uptrend with a support zone around 1.
850 points.However, after a strong rebound from the bottom around 1.600 points, the index is facing the risk of creating a short-term peak when returning to the old peak at the beginning of 2026.SHS said that adjustment pressure currently mainly comes from the Vingroup group after a period of outstanding strong increase compared to the general market.According to this unit, the valuation of this stock group has now risen quite high, increasing short-term profit-taking pressure.Investors holding high proportions are recommended to review and restructure their portfolios, while new positions should prioritize leading enterprises with good fundamentals and clear growth prospects.
Shinhan Securities Vietnam (SSV) believes that investor sentiment has not been too greatly affected as the decline has not spread into a state of panic.The index is still likely to head towards the 1,950 point zone if the net selling pressure from foreign investors continues to cool down.In the process of going up, the market is likely to experience fluctuations to restructure and rotate cash flow to new leading groups such as banks and securities.
SSV recommends that investors limit chasing purchases, prioritizing businesses with clearly improved business operations in the second quarter of 2026.Cash flow is currently still concentrated in groups associated with domestic driving forces such as public investment, banking, construction materials, real estate and securities.
