Market Beat: Afternoon Session Divergence, VN-Index Curbs Gains

11 May, 2025

Although buyers remained dominant towards the end of the session, sellers also gained momentum. The market breadth included 410 advancing stocks and 340 decliners. Red dominated most sectors, notably banks, real estate, materials, consumer staples, and industrials…

However, the energy and telecom sectors maintained their gains until the end of the session. They were also the top two best-performing sectors today.

Today, NVL experienced a ceiling price surge. Trading volume for this stock also spiked with nearly 37 million shares exchanged. Foreign investors net bought 4.6 million shares.

In the materials sector, large-cap stocks declined. HPG, GVR, DGC, HSG, DPM, DCM, and NKG fell by around 1-2%.

Foreign investors net bought slightly in today’s session, with a value of nearly VND52 billion. Over the past half month, they have maintained a relatively stable trading scale, with a value of about VND2,000 billion each way.

Foreign investors’ net buying and selling activities

Morning Session: More Active Trading

Selling pressure increased somewhat, leading the VN-Index to fluctuate around 1,450 points. The index ended the morning session up 8.0 points, or 0.65%, at 1,248.16. The HNX-Index gained 1.2 points, or 0.56%, to 214.0.

VIC rejoined the race and became the stock that pushed the VN-Index up the most. At the end of the morning session, the Vingroup giant rose 2%. Meanwhile, VHM and VRE were trading around reference prices.

In the real estate sector, many companies were also on an upward trajectory. NVL, DIG, and PDR surged simultaneously.

The energy and telecom sectors led the market in terms of gains. In the energy sector, oil and gas stocks such as BSR, PVS, PVD, PVC, PVB, and PSB advanced. The coal industry also saw positive performances from TVD, NBC, THT, and ITS.

In the telecom sector, VGI, FOX, CTR, SGT, and ELC rose sharply. Among them, VGI climbed nearly 3%, leading the group.

Trading momentum remained enthusiastic. The trading value on the HOSE reached nearly VND9,000 billion in the morning session, up 56% compared to the previous session. Investor sentiment showed excitement after a cautious session.

Foreign investors were net sellers of just over VND90 billion. The trading value of the most bought and sold stocks by foreign investors was only around VND30-40 billion.

Top 10 stocks with the strongest foreign net buying and selling in the morning session of May 6, 2025

10:30 AM: Banking Group Joins the Rally, VN-Index Extends Gains

The positive momentum continued, with indices maintaining an upward trend in the first half of the morning session. By 10:20 AM, the VN-Index had risen more than seven points and was heading towards the 1,250 level.

The banking group was an important pillar supporting the market’s rise this morning. VCB and VPB simultaneously pushed the index up by contributing two points each. CTG and BID were also among the top 10 stocks leading the market higher. In addition, some other large-cap stocks, such as FPT, GAS, NVL, BSR, and HPG…, also made positive contributions.

The Vingroup trio, on the other hand, performed in the opposite direction today. VIC, VHM, and VRE fell slightly.

Green dominated the financial, materials, energy, information technology, and telecom sectors. Meanwhile, the consumer staples sector was highly divided.

Market Open: Real Estate Group Accelerates

The VN-Index started the May 6 session on a cheerful note, rising 5-7 points in the early minutes. The HNX-Index also gained more than one point. Market liquidity far exceeded that of the same period in the previous session. Investors may have been reassured by the new trading system and actively participated in the market.

Source: VietstockFinance

The market was painted green, with over 310 stocks rising, far outnumbering the 110 declining ones. The information technology, oil and gas, and real estate sectors showed broad positivity.

In the real estate sector, NVL hit the ceiling price in the morning session. CEO, DIG, and PDR rose by 3-4%.

In the information technology sector, FPT gained over 1%, CMG rose nearly 4%, and ELC climbed nearly 2%. Notably, ITD hit the ceiling price.

In the oil and gas sector, green dominated. PVD, PVS, BSR, and PVB… rose simultaneously.

Mild divergence occurred in the consumer staples sector, with VNM, VHC, BAF, and DBC… advancing, while MSN, ANV, HAG, and VLC… declined.

Changes to the KRX System

No.	Changes	Current System	Changes in the New System
1	Trading Orders	– ATO and ATC orders are prioritized over limit orders (LO) during matching – The quote board displays the three best bid and ask prices of all orders placed during the periodic auction – The quote board displays ATO and ATC symbols – PLO orders from 14:45 to 15:00: Continuous matching	– ATO/ATC orders will not be prioritized over LO orders to buy at the ceiling price and sell at the floor price that have been entered into the system earlier during matching – The quote board displays the three best remaining bid and ask quantities after expected matching – ATO and ATC orders that are not fully matched will be displayed at the specified price as LO orders – PLO orders from 14:45 to 14:50: Periodic auction. PLO orders from 14:50 to 15:00: Continuous matching
2	Modify/Cancel Orders	Allow simultaneous modification of price and quantity in one attempt	Do not allow simultaneous modification of price and quantity
3	Odd-lot Trading	– Odd-lot matching: 09:15 – 11:30 and 13:00 – 14:30 (Continuous matching) – Odd-lot negotiation: 09:15 – 11:30 and 13:00 – 15:00	– Odd-lot matching: 09:00 – 11:30 and 13:00 – 14:45 (Continuous and periodic matching) – Odd-lot negotiation: In-hour session 09:00 – 11:30 and 13:00 – 14:45 // Post-hour session 14:45 – 15:00
4	Market Orders	MP orders are traded at market prices, and unmatched portions are converted to LO orders	MP orders are replaced with MTL orders, which are traded at market prices, and unmatched portions are converted to LO orders
5	Restricted Stocks	Only traded in the afternoon session: 13:00 – 15:00	Traded all day, but applying the PCA periodic auction matching method multiple times (each session lasts 15 minutes)
6	Negotiated Trading	– Only the seller can enter orders – Allowed to correct errors during trading hours – Negotiated orders are traded and matched from 9:00 to 15:00	– Both the buyer and the seller can initiate negotiated trades – Not allowed to cancel/modify orders that have been executed – Including in-hour negotiation session (9:00 – 14:45) and post-hour negotiation session (14:45 – 15:00) – Negotiated orders entered during the in-hour session after 14:45 will become invalid. New orders must be entered for the post-hour negotiation session
7	Foreign Investors’ Trading of Stocks	Foreign room limit decreases when the foreign investor’s buy order is matched	Foreign room limit decreases immediately when the foreign investor’s buy order is newly entered or the quantity is increased
8	Changes to Futures Contract Codes	For example, VN30F2403	Futures contract names follow international standards, for example, 41l1F3000
8	VSDC’s Fee for Clearing Services Replaces the Position Management Fee for Derivatives Trading	VSDC collects a position management fee of VND 2,550/contract/night	No position management fee is collected. Instead, a clearing fee of VND 2,550/matched contract is charged
9	Changes to the Time Frame for Monitoring Collateral Value	VSDC monitors the collateral value in real-time. Investors must deposit collateral with VSDC before trading. When investors close their positions, the money is returned immediately	The time frame for VSDC to monitor the collateral value changes to T+1