The stock market has had its fourth consecutive week of decline and VN-Index has retreated below the psychological support level of 1,800 points with sharply reduced liquidity.
Trading statistics on the HOSE exchange last week showed that the VN-Index had 3 down sessions and 2 up sessions. At the end of the trading week, the VN-Index decreased by 47.25 points, equivalent to a decrease of 2.57% to 1,791.65 points.
Liquidity continued to decrease sharply. Overall for the week, the total trading value of the whole market on HOSE reached 78.998 billion VND, down 13.23% compared to the previous week.
Foreign investors are still a major minus point when net selling nearly VND 3,100 billion in the past week, in which the focus of selling is large codes such as VHM, FPT, MBB, VPB.
According to the assessment of financial analyst, Dr. Nguyen Duy Phuong, Director of DGCapital financial investment block, the VN-Index struggling around the 1,800 point zone in the context of continuous decline in trading value shows that the market is in a state of liquidity exhaustion, and at the same time reflects the very large cautious psychology of investors.
Selling pressure in the market is not really too strong. This is a signal that supply has significantly weakened after a long period of adjustment. In other words, the market currently does not have many investors willing to sell at any price.
However, although selling pressure has decreased, cash flow is still not ready to return. The reason lies in the fact that investors are still waiting for clearer signals from the domestic and international macroeconomic environment.
Money is not really withdrawing from the market, but standing aside to observe.The market needs more strong enough momentum to attract capital to return, and at the same time confirm the bottom zone more clearly," Dr. Phuong assessed.
In the June 2026 market strategy report just released, Vietcap Securities believes that the current valuation level is in an attractive range, thereby supporting the possibility of VN-Index forming a short-term bottom in the near future.
According to Vietcap, VN-Index increased by about 4% from the end of April to May 18, thereby setting a new historical peak at 1,928 points. However, the upward momentum gradually weakened in the second half of the month when profit-taking pressure appeared, foreign investors increased net selling and domestic investors became more cautious.
In the base scenario, Vietcap realizes that most stocks on HoSE are still maintaining an accumulation state or have returned to the accumulation price base after the increase in early May. This helps the market have the opportunity to find a balance point in the 1,810 point area before recovering again.
Accordingly, the securities company forecasts that VN-Index may increase again in the second half of June and head towards the 1,890 point zone. In the opposite direction, the negative scenario is that the market continues to be affected by the correction momentum of large-cap stocks, especially VIC and VHM. At that time, VN-Index may retreat to lower support zones at 1,775 points or 1,745 points.
However, even in this case, Vietcap still expects the stock price level on HoSE to continue to maintain an accumulation state instead of entering a widespread deep decline trend.
