Vietnam Insight

▶ The index opened the trading session with a gap up of 7.17 points despite the correction pressure from the previous session. The index faced strong selling pressure from foreign investors throughout the session, marking the strongest selling session since the beginning of 2026. The selling pressure was not widespread across many sectors but concentrated on Vingroup stocks today following news of interest rate hikes by banks, which affected market sentiment.

▶ At the close of trading, the VN-Index fell 27.59 points (-1.51%) to 1,802.91 points; the HNX-Index decreased slightly by 0.37 points (-0.15%) to 252.47 points. Market liquidity decreased during the index correction, falling below the 20-day average, but was significantly higher than the previous session, reaching 38.3 trillion VND, corresponding to 1,216 million shares traded. Foreign investors sold heavily, netting VND 1,777 billion today, with the largest net selling value in VCB, VIC, and VNM. Conversely, FPT, GAS, and GEX were the stocks with net buying.

▶ Technical perspective: The market continues to face strong downward pressure and is returning to test the important support level around 1,800 points. Selling pressure is concentrated on a single blue-chip stock, and trading volume is lower than the 20-day average, indicating no signs of a sell-off and that large capital flows have not yet exited. From a technical perspective, the VN-Index shows a weakening short-term trend as it simultaneously loses both the MA10 and MA20 lines, and the MACD remains negative. However, this is considered a healthy correction; if demand increases strongly around the 1,800-1,850 point range, this will be an extremely positive signal for long-term buying positions.

From a statistical perspective, we monitor the percentage of stocks trading above the 50-day moving average (EMA50) as an indicator to identify the market bottom. Historically, the VN-Index usually confirms a bottom when this percentage fluctuates between 30% and 40% and peaks around 60-70%. With current figures above 42%, the data suggests there is still room for growth for most stocks.