In yesterday's trading session (May 6), VN-Index had its second consecutive gaining session in the first 3 sessions of May, and brought many positive signals. Market liquidity has been clearly improved, the upward momentum has spread to many industry groups, no longer dominated by the large-cap stock group Vin.
Also last night, US stocks rose sharply after information emerged that the US and Iran were approaching an end to war agreement. Positive signals also spread to a series of Asian markets this morning.
That positive information helped the Vietnamese stock market enter today's trading session (May 7) with excitement after putting aside concerns that VN-Index would be under pressure while in the old peak area, along with the recovery of the Vingroup stock group, which helped the market continue to move forward and has surpassed the 1,900 point mark.
Closing the morning session on May 7, VN-Index increased by 15.20 points (+0.8%) to the threshold of 1,906.40 points. Market liquidity increased sharply when more than 434.8 million shares were traded with a total value on HOSE reaching 12,977 billion VND. HNX increased by 0.02 points to the threshold of 248.48 with liquidity reaching 455.17 billion VND.
VIC and VHM continue to be the main drivers for VN-Index when contributing 4 points and 3.11 points respectively. However, the focus in the morning session of the market belongs to the Gelex stock group. While GEX soon showed off its purple color and has now matched orders for nearly 13 million units with a ceiling buy order volume of nearly 10.7 million units, GEE stock also had a time of successfully pulling the ceiling and closing the morning session up 6.83% with a total trading volume of more than 2 million shares.
The Vietnamese stock market is showing an upward trend along with a clear spreading cash flow. This shows that the "Sell in May" story is once again not too worrying for the stock market in May.
Commenting on the stock market in May, in a recent personal Facebook post, Mr. Nguyen Duy Hung - Chairman of SSI said "Sell in May" is a familiar saying, but the market does not operate according to the schedule, but according to expectations. "Understanding what you are buying and why you are holding is more important than any convention. Rewards always belong to those who understand what they are doing," Mr. Hung shared.
Experts also believe that the Vietnamese stock market has high expectations in this period. SSI Research's May 2026 strategic report just released said that Vietnam is highly likely to be included in MSCI's tracking list in the June 2026 review period. Currently, the market has met 10/18 criteria for MSCI's market access and is continuing to improve on all remaining criteria.
Another piece of good news is that credit rating agency Moody's recently adjusted Vietnam's credit outlook from "Stable" to "Promising" and Vietnam's national credit rating at Ba2. This is a positive sign showing market confidence in Vietnam's recovery capacity, macroeconomic stability and increasingly clear position. This move is expected to boost high-quality capital flows, while creating structural reform pressure.
May may be a period to test the sustainability of cash flow. If liquidity is maintained well and cash flow spreads to other industry groups, the risk will not be too large. In addition, the general valuation level of the market is currently not too high, except for some pillar stocks, so the possibility of a deep decline is not high.
On the other hand, experts also believe that the possibility of short-term fluctuations is present.Although the VN-Index has increased quite strongly, this increase has not spread evenly.The main contribution comes from the Vingroup stock group, while many other stocks are still in a state of accumulation, sideways or struggling.
