Vietnam Insight

▶ The market opened with a gap up 6.32 points after regaining the previous session's increase momentum. The index traded above the reference level throughout the session, although foreign net buying momentum slowed down. The market's growth was strongly supported by Vingroup group stocks including VIC, VHM and VRE. 

▶ At the end of the trading session, the VN-Index increased by 14.54 points (+0.99%), reaching 1,490.01 points; the HNX-Index increased by 3.74 points (+1.54%), reaching 246.09 points. The liquidity of the whole market remained high above the 20-session average, reaching VND 42.6 trillion, equivalent to only about 1.797 million shares traded. Foreign net buying momentum of more than 10 sessions slowed down and returned to net selling of VND 154 billion in today's session, mostly concentrated in VCB, HCM and CII. On the other hand, NVL, HPG and MSN were the stocks that foreign investors bought the most.

▶ Technical perspective: The real estate group, in which VIN stocks have increased strongly, helping the VN-Index approach the historical 1,500 mark. Foreign investors appeared to be net sellers after many consecutive net buying sessions. In the context of the VN-Index returning to the old peak, RSI trading in the overbought zone, the market is likely to fluctuate. The VN-Index is currently still trading above all three EMA20/50/200 lines, along with the support of institutional cash flow behind, the main trend of the market, according to our assessment, is still an uptrend.

In the positive case: In the correction sessions, buying pressure appears around the 1,400-1,450 point area, helping to open up suitable buying points to increase positions. Information about good growth in Q2/2025 business results and market upgrade could be the key factors helping the market maintain its upward momentum in the coming time.

In the negative case: Overwhelming selling pressure causes VN-Index to lose EMA20 and EMA50 points, along with unfavorable economic information that could push VN-Index back to a sideways state within a wide range.

Strategy: In technical correction sessions, investors can consider partial disbursement in stocks with good business results expectations and benefit from market upgrade expectations. Investors can consider investing in stocks that have attracted foreign cash flows in recent times such as banks and real estate.