Vietnam Insight

Quick Summary — The VN-Index closed the 28/10/2026 session at 1,766.65 points (+0.27%), the market remained sharply divided as large caps moved in both directions, with market-wide liquidity of VND 16,330 bn. Media led sector gains (+2.88%), while the market traded in a narrow range and held its sideways trend around the 1,750 – 1,800 equilibrium zone. Foreign investors net sold VND 267 billion, concentrated in FPT, VPL and GMD. In contrast, TCB, MSN and VCB saw solid net buying. The VN-Index is expected to trade within a support zone of 1,700 and resistance of 1,860 points over the coming sessions.

Technical: The market remained sharply divided, with large caps moving in both directions. It traded in a narrow range on thin liquidity, pointing to an equilibrium zone of 1,750 – 1,800. The prevailing trend is still sideways. Support and resistance stand at 1,700 and 1,860 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.