Vietnam Insight

▶ The index opened the session with a slight gap down 1.08 points after the previous adjustment session. Selling pressure quickly weighed on the index with net selling pressure from foreign investors. However, foreign investors' selling pressure decreased slightly, the index recovered to the reference level in the afternoon session, but the index failed to maintain the reference level at the end of the session when selling pressure increased at the end of the session. 

▶ At the end of the session, the VN-Index decreased by 18.56 points (-1.16%), reaching 1,580.54 points; the HNX-Index decreased by 1.93 points (-0.74%), reaching 258.18 points. Liquidity in the whole market continued to remain at a low level, lower than the average of 20 sessions, at 23.7 trillion VND, equivalent to 837 million shares traded. Foreign investors' net selling value decreased to VND 183 billion, with the largest net selling value belonging to HDB, VRE and KDH. On the contrary, HPG, VIX and MWG were the typical net buying stocks.

▶ Technical perspective: The index continued to extend its decline from the weekend session and moved towards the 1,580 point zone in the morning session. Although bottom-fishing cash flow appeared at the end of the morning session and continued until near the end of the afternoon session, the selling pressure that appeared in the last 15 minutes of the session and in the ATC session caused the VN-Index to lose all its upward momentum, closing at 1,580 points. Overall, market liquidity remained low, the decline was concentrated in some large-cap stocks that had increased well in recent times such as VHM, GEX, VIX. The market may be differentiated in the coming time, some stocks in large-cap industries such as banks have discounted to reasonable levels, so they will begin to find a balance point, while speculative stocks may continue to face downward pressure.

In the positive case: The market is showing signs of early balance in the 1,580-1,600 point range, with liquidity declining sharply across the market. We expect the market to see bottom-fishing buying pressure around the 1,550-1,580 range and bring the VN-Index to a sideways trend (1,600-1,700) in the rest of 2025.

In the negative case: The downtrend continues to increase with trading volume gradually increasing in a downward direction, and there is no bottom-fishing pressure around the 1,550-1,580 point threshold. The market may then continue to move towards the 1,500 support zone and lower price zones for testing.

Strategy: Investors following the trading school limit transactions, waiting for the market to show signs of demand returning and forming a new price base. Investors following the medium and long-term investment school can start to disburse part of the investment in groups of stocks with good business results and attractive enough discounts such as banking, finance, construction materials, etc.