The market witnessed a sea of red during the morning session, attributed partly to the lack of a breakthrough momentum and partly to the unexpected expiration of derivative contracts. Trading liquidity on the two exchanges plummeted by 22% compared to yesterday’s morning session, hitting an eight-day low.
Despite this, the VN-Index demonstrated a decent upward trajectory in the first half of the morning session, peaking at 1352.01 points, a gain of 5.2 points, before succumbing to downward pressure. Blue-chip stocks unanimously retreated from their highs, with many turning from green to red. However, the breadth of the market indicated that the decline wasn’t solely due to the derivative contract expirations but also reflected broad-based selling pressure. At the VN-Index peak, there were 122 gainers and 113 losers, but by the end of the session, this ratio had shifted to 77 gainers and 205 losers.
Within the VN30 group, only 7 stocks managed to stay in positive territory by the end of the session, while 19 others slipped into the red. Fortunately, some large-cap stocks provided a much-needed boost. Specifically, in the Top 10 stocks by market capitalization, VHM rose by 0.42%, BID gained 0.14%, TCB surged 1.98%, CTG climbed 1.12%, and GAS inched up by 0.42%. On the downside, VCB dipped by 0.18%, FPT fell by 0.68%, and HPG declined by 1.1%.
Nevertheless, the weakness in the blue-chip sector was evident. Even the strongest performers, such as CTG, slid by approximately 1.1% from its intraday high. VHM plunged by 2.45%, and GAS slipped by 0.84%. Out of the VN30 stocks, a concerning 12 stocks witnessed declines of 1% or more from their peak prices, and none managed to maintain their intraday highs. VIC, a pivotal stock in pushing the VN-Index to its peak, surged by up to 2.95% but subsequently gave up these gains. This price weakness was accompanied by a 15% drop in trading volume, indicating potential issues with supportive inflows.
The narrowing breadth towards the end of the session, coupled with the pervasive red and declining overall liquidity, sent a similar signal. The total matched trading volume on the two listed exchanges dropped by 22% from yesterday’s morning session, reaching nearly VND 8,175 billion. The HoSE, in particular, witnessed a 26% decline to VND 7,233 billion. Out of the 19 stocks on the HoSE that surpassed VND 100 billion in liquidity, accounting for 52.3% of the total HoSE volume, only 5 stocks managed to eke out gains.
From the perspective of market breadth and liquidity concentration, the dominant theme was downward price action driven by weak buying pressure. Initially, the market exhibited enthusiasm, with investors willing to place orders at higher prices. However, the lack of sustained inflows caused selling pressure to push prices lower as time progressed. A telling statistic is that 42.2% of the stocks that generated trading volume on the VN-Index witnessed price declines of 1% or more from their intraday highs.
Nonetheless, the pressure was not intense enough to trigger a broad-based sell-off. Out of the 205 stocks in negative territory, only 86 declined by more than 1% from their reference prices. Trading in these stocks was relatively slow, accounting for approximately 27.3% of the HoSE volume. Mid-cap stocks faced more evident pressure: DBC dropped by 2.46%, EIB fell by 1.08%, VPI declined by 1.74%, PVD slid by 2.11%, DIG lost 1.45%, HAH decreased by 2%, NLG fell by 2.89%, and DXG dipped by 1.53%, all among the highest liquidity mid-cap stocks.
On the upside, the weakened buying power failed to fuel impressive counter-trend moves as seen in previous sessions. While approximately 34 stocks managed to gain more than 1% by the end of the session, trading was concentrated in about 12 stocks with liquidity above VND 10 billion. TCB and CTG led the pack, followed by KBC, which rose by 2.41% with a liquidity of VND 131.3 billion; GVR climbed by 1.03% with VND 61 billion; BFC surged by 3.94% with VND 57.6 billion; PHR jumped by 4.45% with VND 34.8 billion; and BCG increased by 3.59% with VND 28.2 billion…
Foreign investors unexpectedly recorded a sharp increase in net selling, reaching VND 651.3 billion on the HoSE, the highest level in three weeks. However, it’s important to note that this surge in net selling wasn’t due to increased selling pressure. The total selling value stood at VND 1,036.8 billion, slightly lower than yesterday’s morning session. The primary reason for the high net selling was an unexpected drop in buying activity, with a buying value of only VND 385.5 billion, the lowest since early April 2025.
Notable stocks that experienced net selling included FPT (-VND 152.5 billion), HPG (-VND 62.3 billion), VHM (-VND 58.8 billion), MWG (-VND 29.9 billion), VIC (-VND 28.9 billion), GEX (-VND 25.4 billion), STB (-VND 21.7 billion), and DBC (-VND 20.8 billion). On the net buying side, GAS (+VND 17 billion), CTG (+VND 16.8 billion), and DGW (+VND 14.4 billion) stood out.
A Blue-Chip Stock Gets a Big Boost on June 18th
The proprietary trading arms of securities companies were net buyers to the tune of VND147 billion on the Ho Chi Minh Stock Exchange (HoSE).
The Digital Commerce Director of VPBankS Underlines the Most Important Factor in Riding the Market’s “Wave”
“Investors should not spend too much time trying to second-guess the market,” Duc advised.
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Foreign sell-offs were a dampener, with net sell-offs of 308 billion dong, ending a positive three-session buying streak.
“VN-Index Defies Geopolitical Tensions: What’s Next for Vietnam’s Market?”
“The ongoing conflict between Israel and Iran is often perceived as a Middle Eastern affair, with implications solely tied to oil prices. However, this notion understates the true global impact of the tension between these two nations.”
The Big Guns Fail to Lift VN-Index, Stocks Tumble Again
The market continues to exhibit hesitancy as the VN-Index once again attempts to breach new highs without the necessary momentum. Today’s peak of 1353.99 marks the highest point the index has reached in its struggle to surpass the resistance level encountered earlier this month. The lack of increased trading volume indicates that investors are also not confident in the success of this breakthrough attempt.
