Vietnam Insight

▶ After a period of sideways trading, the market surged strongly on Wednesday, February 11th. Selling pressure eased, and a large influx of capital pushed prices higher. Green spread across key stocks such as VIC (+5.44%), VCB (+4.44%), VHM (+2.07%),…; and Midcap stocks like SSI (+3.17%), VIB (+2.42%),…. In addition, the Real Estate sector also recorded an impressive recovery after a period of decline. Conversely, the oil and gas sector continued its downward trend. Notably, foreign investors made net purchases for the second consecutive session with outstanding liquidity, mainly recorded in MBB (1,406 billion VND).

▶ At the end of the trading session, the VN-Index increased by 42.82 points (+2.44%), closing at 1,796.85 points. The HNX-Index increased by 2.09 points (+0.82%), reaching 255.86 points. Total market liquidity reached 34 trillion VND, an improvement compared to the previous session, corresponding to over 1.25 billion shares traded. Foreign investors continued to net buy 2,086 billion VND, with significant net buying recorded in MBB, VPB, and MWG. Conversely, typical net selling was seen in VCB, FPT, and HPG.

▶ After a period of sideways trading, the market surged strongly on Wednesday, February 11th. Selling pressure eased, and a large influx of capital pushed prices higher. Green spread across key stocks such as VIC (+5.44%), VCB (+4.44%), VHM (+2.07%),…; and Midcap stocks like SSI (+3.17%), VIB (+2.42%),…. In addition, the Real Estate sector also recorded an impressive recovery after a period of decline. Conversely, the oil and gas sector continued its downward trend. Notably, foreign investors made net purchases for the second consecutive session with outstanding liquidity, mainly recorded in MBB (1,406 billion VND).

▶ At the end of the trading session, the VN-Index increased by 42.82 points (+2.44%), closing at 1,796.85 points. The HNX-Index increased by 2.09 points (+0.82%), reaching 255.86 points. Total market liquidity reached 34 trillion VND, an improvement compared to the previous session, corresponding to over 1.25 billion shares traded. Foreign investors continued to net buy 2,086 billion VND, with significant net buying recorded in MBB, VPB, and MWG. Conversely, typical net selling was seen in VCB, FPT, and HPG.

▶ Technical perspective: The VN-Index rose sharply from the beginning of the session and maintained its positive momentum throughout, with improved liquidity. While liquidity increased, it still hasn't exceeded the 20-day average, indicating that money is returning but hasn't reached a state of high euphoria. Therefore, the market is unlikely to recover in a V-shaped pattern immediately and may still experience technical fluctuations. The VN-Index is currently fluctuating at the lower boundary of the upward price channel. This correction is necessary for the market to consolidate its price base, creating a foundation for a sustainable upward trend in the near future.

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 typically confirms its bottom when this ratio fluctuates between 30% and 40%, and peaks around 60-70%. With the current figure at around 40-45%, the data suggests there is still room for growth for most stocks.

Strategy: Correction sessions present opportunities for investors to increase their positions. We recommend focusing on stocks with good business results and promising growth prospects in 2026 but which have not yet experienced corresponding growth, such as private banking, retail, securities, and steel. Stocks showing positive growth potential, such as state-owned banks and industrial real estate stocks, require selective evaluation and avoiding chasing high prices.