Vietnam Insight

▶ The market opened the trading week with a gap up 6.32 points, following the previous trading week's increase. The index was under selling pressure throughout today's trading session after information related to real estate tax negatively affected the industry. The index closed below the reference level despite foreign investors returning to net buying. 

▶ At the end of the trading session, the VN-Index adjusted 12.23 points (-0.82%), to 1,485.05 points; the HNX-Index decreased 1.98 points (-0.80%), to 245.79 points. The liquidity of the whole market remained high, above the 20-session average, reaching VND39.2 trillion, equivalent to only about 1.715 million shares traded. Foreign investors returned to net buying VND175 billion in today's session, focusing mostly on VPB, VIC and SII. On the other hand, VCB, FPT and VIX were the stocks that foreign investors sold the most.

▶ Technical perspective: Profit-taking pressure appeared in the afternoon session after the VN-Index approached 1,500 points. Real estate stocks decreased after many consecutive hot sessions. The decline was at an average amplitude, focusing on a few hotly increasing industry groups and foreign investors and self-employed traders maintained a slight net purchase. We have not seen any signs of a sell-off during the trading session. The VN-Index is currently trading above all three EMA20/50/200 lines, 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.