Vietnam Insight

▶ On Thursday's trading session, selling pressure from foreign investors continued, then gradually cooled down and turned to net buying at the end of the session. Vingroup stocks kept up leading the market and maintained green. However, profit-taking pressure increased at the end of the session, causing the market to reverse and end the session in red. Liquidity increased sharply and remained higher than the 20-day average.

▶ At the end of the trading session, the VN-Index decreased by 8.14 points (-0.61%), reaching 1,326.27 points; the HNX-Index decreased by 0.56 points (-0.23%), reaching 241.31 points. Market liquidity reached VND24.5 trillion, equivalent to about 1,068.7 million shares traded. Foreign investors turned net buyers of VND152.53 billion, focusing on VIC, SSI, CTG.

▶ Technical perspective: After a significant near-9% rally from January 2025, the VN-Index experienced a predictable technical correction, with most stocks seeing minor declines, contrasting with the strong performance of Vingroup (VIC, VHM, VRE). We believe this correction is a constructive phase, setting the stage for a more sustainable uptrend. These pullbacks present valuable opportunities for investors to establish or increase holdings. We expect the VN-Index to then advance towards the 1,350-1,360 resistance zone.

Strategy: The market is following the main sideway trading trend. For short-term trading, investors can consider disbursing when VN-Index shows a correction around 1,280-1,300. With a holding strategy, investors can disburse more when VN-Index breaks out and successfully defends the 1,300 point zone.