Vietnam Insight

Quick Summary — The VN-Index closed the 26/10/2026 session at 1,763.55 points (-0.60%), with the market diverging sharply and cooling after three consecutive recovery legs, and market-wide liquidity of VND 14,657 bn. Utilities led sector gains (+1.41%), while the index stalled at the MA 50 zone (1,780 - 1,800) with the moving average flat. Foreign investors net sold VND 892 billion, concentrated in FPT, HDB and VPL. In contrast, MSN, TCB and VIC saw solid net buying. The VN-Index is expected to trade within a support zone of 1,700 and resistance of 1,840 points over the coming sessions.

Technical: The market diverged sharply and is stalling at the MA 50 (the 1,780 - 1,800 zone) after three consecutive recovery legs. A flat MA 50 signals that the primary trend remains unclear and that trading is largely sideways. The market could still return to the upper bound of the range if the recovery resumes. Support and resistance stand at 1,700 and 1,840 respectively.

Short-term scenarios for the next 2 weeks:

• Bullish (20%): The market breaks above 1,800 points as market breadth improves markedly
• Base case (65%): Trading is expected within the 1,735 - 1,780 range as divergence persists
• Bearish (15%): The market falls back to the 1,660 zone with no large-cap group holding the index up

Strategy: Investors should treat the headline index as a reference only, given how heavily the market is dominated by the Vingroup stocks. Caution remains warranted in the short term, but opportunities persist in sectors still attracting flows, such as Exporters, Real Estate, Industrial Park Real Estate and Retail. Risk-averse investors should favour low-beta names with high dividend payouts and low debt.