The stock market has just had a week of strong declines on a low liquidity basis, mainly affected by a number of large adjusted stocks such as Vingroup, Gelex. Meanwhile, part of the cash flow is shifted and directed to small, highly speculative stocks such as SMC, KHG, LDG, DRH, HSL...
At the end of the trading week, the VN-Index decreased by 43.53 points (-2.59%), down to 1,639.65 points. The cautious mentality was dominant during the week, when matched liquidity was 30% lower than the 20-week average.
As of the end of the trading session, the average matched volume on the HOSE floor reached 890 million shares/session, down more than 26% compared to the previous week, the trading value reached an average of VND 27,562 billion/session, down more than 27%.
In October 2025, the VN-Index decreased by more than 22 points from nearly 1,662 points, equivalent to -1.32%.
Regarding foreign transactions, while FPT technology stocks continue to receive strong demand and continue to trade well, financial stocks including banks and securities are being sold strongly by foreign investors.
In the past week from October 27-31, in the whole market, foreign investors have net sold more than 172 million units, with a total net selling value of VND 3,072.2 billion. On the HOSE floor, foreign investors net bought the most FPT shares with a volume of nearly 19.3 million units, with a corresponding net purchase value of VND1,350 billion.
On the contrary, this group net sold the most MBB shares with a volume of 53.5 million units, with a corresponding net selling value of VND 1,185 billion. Next was SSI, which was net sold for VND937 billion (28.44 million units).
Experts say that the withdrawal of foreign capital in the short term is mainly due to psychological factors, and the possibility of a return is very large when the market outlook is still positive. Market fluctuations are inevitable, but what needs attention is the market outlook.
The stock market is being supported by many positive factors, including a stable economic foundation, reasonable policies, increased corporate profits, valuation factors and psychological factors. Although FTSE Russell's inclusion of Vietnam in the upgrading list is an important turning point, it also requires more careful preparation from both management agencies and businesses.
Regarding the story of margin's outstanding debt increasing to a record high, peaking in the context of trading liquidity on all three exchanges continuously maintained above the billion-dollar threshold, it shows that investors are still placing great trust in the stock channel. Similar to many other upward waves in the stock market, when trading value increases, the index increases, margin also increases.
According to regulations, the total margin lending limit cannot exceed 2 times the equity. In the overall aspect of the securities industry, this ratio at the end of the third quarter of 2025 shows that most securities companies are still at a safe level. However, according to many experts, the rapid increase in margin balance also poses certain risks, especially if the market continues to have strong adjustments like on October 20 (the VN-Index lost nearly 95 points).
The advice given by many stock experts at this time, for investors using margin, the most important thing is to have a clear risk management strategy. First of all, it is necessary to review the investment portfolio, reduce the proportion of stocks that have increased sharply, lack supporting fundamental factors and prioritize the retention of stocks with good corporate internal strength and clear long-term growth prospects. The rate of leverage use also needs to be controlled at a reasonable level, avoiding the situation of " full margin" in the context of the market showing signs of entering a strong differentiation stage.
