The cautious mentality is still maintained, causing the VN-Index to fluctuate during today's trading session on October 1. In the morning trading session, green dominated, including the active contributions of the two leading groups, the banking group and securities companies, however, the two Vingroup stocks, VIC and VHM, reversed and decreased, making the VN-Index unable to break out.
Notably, in the afternoon session, the VN-Index suddenly decreased vertically, dropping about 15 points, establishing the bottom of the day at 1,655 points when VIC and VHM were pushed down by more than 4% and more than 2%, respectively.
However, very quickly, the decline of these two stocks was narrowed, the VN-Index was pulled up for reference and closed with a slight increase, lower than the morning session. When closed, VIC decreased by only 2.8% to VND 170,000, while VHM decreased by 1.75% to VND 101,200. These are also the 2 most famous stocks in the VN30 basket.
VN-Index closed the session up 3.35 points at 1,665 points. However, liquidity decreased by more than 30% compared to the previous session, with a total trading volume of 717.5 million units, worth VND 21,317 billion, showing the cautious sentiment of investors.
The Vietnamese stock market has just ended September with many fluctuations, but the range is not too large and the trend is not clear. In the previous 4 months, the VN-Index increased by more than 450 points, equivalent to about 37%.
The market is going up tirelessly without any really clear adjustment period. The breaks were also short for a few sessions. Therefore, profit-taking pressure around the peak of 1,700 points is inevitable. In addition, September fell into the "IT lowlands", lacking clear motivation to support the score to increase.
In the context of foreign investors continuing to sell strongly, domestic cash flow is still the main driving force to help the market stand firm. The low interest rate environment is maintained as one of the factors supporting domestic cash flow into the stock market. However, investors are generally cautious before the upcoming period when many important information streams will be announced.
Entering October, many positive information are expected to create a new effect. That is the story of upgrading the market, the season to announce business results in the third quarter of 2025, and the clearer impact of the US Federal Reserve (Fed) cutting interest rates.
Notably, the market is waiting for information that Vietnam will be approved by FTSE Russell for upgrading, with the expectation of reaching almost the maximum level.
Dr. Nguyen Duy Phuong, Director of Strategic Investment of DG Capital, said that the experience of many countries shows a more multi-dimensional reality: the index and liquidity often fluctuate unpredictably during and after the upgrade; there are markets that explode immediately, but there are also markets that only grow after a few years, even adjusting in the short term. In addition, being classified as a "second-class emerging market" does not mean that a huge wave of foreign capital will immediately appear. Large funds often disburse according to a roadmap, depending on liquidity, stock quality and the ability to withdraw capital safely.
Meanwhile, cash flow is expected to have more clear regulation in the last months of the year due to increased bank liquidity pressure, the exchange rate approaching the 27,000 VND/USD mark, interest rates are unlikely to maintain a prolonged low, while gold prices hit a peak and became a major attraction channel.
The combination of these factors has caused the market to face a short-term correction, dragging liquidity down. This situation may continue into October, until information about business results appears, thereby improving market momentum.
