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Market Beat: Profit-Taking Pressures Mount, VN-Index Back to Square One.

24 May, 2025

Market liquidity has significantly increased. This morning’s trading value reached over 13.5 trillion VND on the HOSE and 593 billion VND on the HNX exchange, up 17% and 49% from yesterday, respectively.

Source: VietstockFinance

The weak green trend is being propped up by a few large caps. VHM, HVN, and STB are the top three contributors, adding 5.5 points to the VN-Index. Meanwhile, VPL and FPT are leading the decline, causing the VN-Index to lose nearly 2 points.

The sector performance shows a clear differentiation. Real estate remains the market leader with a nearly 1% gain. However, this increase is driven by a few standout stocks such as VHM (+5.25%), NVL (+4.64%), VPI (+0.98%), and HDG (+1.22%). Most other stocks in the sector are experiencing strong profit-taking, notably VRE (-0.97%), KDH (-1.72%), KBC (-1.3%), SIP (-2.07%), IDC (-1.69%), PDR (-1.2%), TCH (-1.1%), and SZC (-1.95%), among others. Notably, VIC stock, which opened with a ceiling price, turned red by the end of the morning session. This development is not surprising, as the stock has surged over 34% since the beginning of May, ranking among the best-performing stocks in the market.

The essential consumer goods, industrial, and financial sectors also managed to stay in the green but with a mixed performance. A few names contributing positively to these sectors’ gains include MCH (+1.98%), MSN (+0.96%); HVN (+6.74%), DPG (+1.79%), CII (+1.05%); STB (+5.7%), VPB (+1.65%), and EIB (+1.01%). The rest are largely dominated by red ticks.

On the losing side, the non-essential consumer goods sector is at the bottom with a 1.5% drop due to significant pressure from VPL (-3.52%), MWG (-1.08%), GEE (-2.53%), PNJ (-2.19%), FRT (-1.58%), and others. Additionally, the information technology, telecommunications, and energy sectors are also correcting strongly, all down over 1%.

Foreign investors net bought over 298 billion VND on the three exchanges this morning. The FUEVFVND fund certificate and STB stock stood out in the net buying list with a value of over 300 billion VND. Meanwhile, FPT continued to be heavily sold by foreign investors, with a value of nearly 140 billion VND, leading the net selling list.

Top 10 stocks with the strongest foreign net buying and selling for the session on May 21, 2025

10:40 AM: The early gains weakened

As buyers gradually lost their footing, the main indices retreated to around the reference level. As of 10:30 AM, the VN-Index gained 2.5 points, trading around 1,317 points. HNX-Index lost 0.64 points, trading around 217 points.

Stocks in the VN30 basket showed a slightly more dominant green trend. Notably, VHM pushed the index up by 4.34 points, STB by 2.76 points, HPG by 1.01 points, and MSN by 0.93 points. Conversely, only a few stocks, including VIC, FPT, MWG, and VJC, continued to face selling pressure, dragging the index down by more than 3.2 points.

Source: VietstockFinance

Real estate stocks continued to be the market leaders, despite a strongly differentiated performance within the sector. Notably, VIC rose by 1.31%, and VHM surged by 4.93%. Since the beginning of May 2025, VIC and VHM have impressively pushed the VN-Index up by 23.2 points and 8.16 points, respectively. Additionally, the green trend was also observed in KSF, up by 0.47%; VPI, up by 1.37%; VCR, up by 0.86%; and others.

Following closely, the essential consumer goods sector displayed a mixed performance but managed to post decent gains, with MCH rising by 1.98%, MSN by 1.12%, QNS by 0.22%, and MML by 0.35%… On the flip side, the selling pressure was slightly stronger, with VNM down by 0.18%, SAB by 0.2%, HAG by 1.15%, VHC by 1.29%, and others, but their impact was not significant.

In another development, the non-essential consumer goods sector exhibited strong differentiation, with sellers slightly dominating. Notably, large-cap stocks like VPL fell by 2.01%, MWG by 1.24%, GEE by 2.43%, PNJ by 1.22%, and others turned red. Only a handful of stocks, such as PLX, up by 0.43%, and GEX, up by 5.26%, managed to stay in the green.

Compared to the opening, a tug-of-war emerged again, with selling pressure gradually increasing. There were 344 declining stocks and 239 advancing stocks.

Source: VietstockFinance

Opening: Green dominated most sectors

At the start of the May 21 session, as of 9:30 AM, the VN-Index rose sharply to 1,327.26 points. Meanwhile, the HNX-Index also edged higher to 218.18 points.

U.S. stocks fell on Tuesday (May 20) as the rally led by technology stocks lost steam, and the S&P 500 broke its six-day winning streak. At the close of trading on May 20, the S&P 500 fell 0.39% to 5,940.46 points, while the Nasdaq Composite lost 0.38% to 19,142.71 points. The Dow Jones fell 114.83 points (or 0.27%) to 42,677.24 points.

The VN30 basket showed a slightly more dominant green trend, with 3 declining stocks, 20 advancing stocks, and 7 stocks trading flat. Among them, FPT, SSB, and VJC were the top losers. Conversely, VHM, VIC, STB, and MSN were the top gainers.

As of 9:30 AM, the real estate sector was the top gainer, positively influencing the market this morning with a 2.32% increase. Notably, VHM rose by 5.41%, VIC by 3.5%, VRE by 0.19%, NVL by 1.27%, and so on.

Ly Hoa