After a correction session and retreating below the 1,800 point mark yesterday (February 4), the general trading situation on the Vietnamese stock market continued to maintain a not very positive state in the session on February 5. The VN-Index fluctuated slightly around the reference level and the 1,800 point mark is playing the role of a strong resistance level.
The recovery of the Vingroup stock group helped the general market have some rebounds and challenge the 1,800-point mark. But as soon as it touched this price range, increased selling pressure quickly caused the general index to turn around.
Closing the session on February 5, VN-Index decreased by nearly 9 points to 1,782 points. Liquidity is maintained with trading value on HOSE reaching more than 25,600 billion VND.
Foreign investors' transactions are a minus point when net selling is about 1,111 billion VND.
In today's session, Vingroup's real estate ecosystem stocks flourished in the afternoon session and the closing result was VIC and VHM increasing to the full range. Meanwhile, VRE also increased by 1.95% in a positive way. Another member, VPL, also increased slightly by 0.58%. At the end of the session, the Vingroup "quad" brought 21.46 points for VN-Index. However, this source of momentum, although large, was still not enough to help the index close in green.
VN-Index decreased by nearly 9 points, which is not too high, but real investors experienced a much more disappointing trading session, because red color covered many stocks.
In the top 10 stocks with the most negative impact on VN-Index today, up to 4 bank stocks appeared: VCB taking 4.15 points, BID (2.19 points), CTG (1.63 points) and MBB (1.26 points). The remaining names include GAS, GVR, VNM, HPG, MSN and FPT.
The Vietnamese stock market adjusted in the context of macroeconomic stability. Vietnam's economic growth still maintained at a high level, interest rates slightly increased but remained low, production and export activities improved. However, cash flow has not been convincing enough to stay for the long term. Profit-taking pressure quickly appeared in some pillar stock groups, causing VN-Index to quickly lose support.
Meanwhile, foreign investors maintained a cautious state in the face of exchange rate fluctuations and the global interest rate environment, buying pressure did not last long and sudden net selling sessions still appeared. Another factor that is quietly reducing the attractiveness of the stock market is the fever on defensive asset channels.
In a recently released report, Bao Viet Securities (BVSC) said that after 3 consecutive months of increase, the market's upward momentum may face many challenges in the coming time. VN-Index may not adjust too much in terms of points, but strong fluctuations may appear interspersed in the month when large-cap stock groups adjust and accumulate again after the recent hot period of increase.
According to BVSC, there are still many industry groups with attractive projected P/E valuations thanks to positive profit growth prospects in 2026. In particular, the story of upgrades may be mentioned again when FTSE will meet and announce in March. Therefore, investor strategy should prioritize focusing on carefully selecting stock groups that benefit from policies and have strong supporting factors from profit growth or discounted prices that are attractive enough.
