A sudden contraction in liquidity was witnessed across many stocks, particularly the VN30 blue-chip group, which saw a 45% decrease compared to yesterday’s morning session. However, the market didn’t perform too badly, as funds actively rotated, with securities stocks taking the spotlight this morning.
The negative performance of global stock markets overnight put some pressure on today’s trading session, with the VN-Index opening with a slight loss of over 5 points. The leading stocks, VIC and VHM, were also in the red for a few minutes. However, the strength of the blue-chip group, especially the leading stocks, improved, and the VN-Index closed the morning session at its highest level, up 8.87 points, or 0.67%.
The VN30-Index performed better, rising 0.93% with 15 gainers and 12 losers. As expected, VIC’s 5.24% gain and VHM’s 4.75% increase contributed 12.4 points to the index’s total gain of 13.16 points. Other notable gainers included MSN, up 1.26%; SSI, up 1.28%; and GAS, up 1.16%.
SSI represented a “breath of fresh air” this morning, as securities stocks witnessed impressive gains. Out of the top 5 stocks by liquidity in the market, 3 were securities stocks: VIX, with a turnover of 613.4 billion VND and a 3.73% price increase; VND, with 540.1 billion VND and a 2.92% price increase; and SSI, with 355.8 billion VND and a 1.28% price increase. Additionally, in the group of stocks with liquidity exceeding 100 billion VND on the HoSE, VCI and HCM also posted gains, up 0.81% and 0.58%, respectively.
The securities group is experiencing strong momentum among mid to small-cap stocks, with VFS, SBS, SHS, AAS, and VIG gaining over 2%. Approximately 8 other stocks rose between 1% and 2%. Only TVS, TVB, and ORS were in the red within this group.
The breadth of the VN-Index at the end of the morning session showed 132 gainers and 150 losers, indicating a slightly higher pressure on the downside. However, the gainers demonstrated a higher concentration, with 16 stocks rising over 1% and a liquidity of over 100 billion VND. In addition to the representative securities stocks such as VIX, VND, and SSI, there were also EIB, up 5.19%; GEX, up 3.23%; NVL, up 1.19%; POW, up 3.42%; EVF, up 3.32%; KBC, up 1.13%; HDG, up 4.15%; HVN, up 7%; TCH, up 1.65%; and BFC, up 4.89%. The HoSE floor currently has 63 stocks rising over 1%, accounting for approximately 44.1% of the total matching value.
Surprisingly, the Midcap index only rose slightly by 0.54%, while the Smallcap index inched up 0.08%. This indicates ongoing differentiation, with only healthy stocks witnessing significant increases. This dynamic is similar to yesterday’s market performance, where the market was range-bound, and the number of declining stocks dominated, but several stocks still managed to buck the trend and post strong gains.
On the downside, this morning didn’t witness significant selling pressure. Notable trades included FPT, down 1.1% with a liquidity of 434.7 billion VND, and PVD, down 1.09% with 111.3 billion VND. The HoSE had 56 stocks falling over 1%, but trading was concentrated in only 17 stocks with liquidity of 10 billion VND or higher, accounting for 95.9% of the total liquidity in this group. Other actively traded stocks included GMD, down 2.01%; GEE, down 2.22%; VTP, down 1.41%; BAF, down 1.13%; and PNJ, down 1.98%.
Another notable change was the weak liquidity on the two listed exchanges this morning. The total matching value was just under 11,572 billion VND, a decrease of 13% from yesterday’s morning session, with HoSE down 15%. Notably, the VN30 basket experienced a 45% drop in liquidity to its lowest level since the beginning of the week. This was due to the cooling off of STB, VPB, and VHM, which had generated extremely high liquidity yesterday. STB’s trading volume even decreased by 89%, while VPB’s fell by 61%…
Foreign investors are slightly net selling on the HoSE, focusing on FPT (-144.4 billion VND). A few other notable sell-offs include VPB (-44.4 billion VND), VRE (-29.1 billion VND), GEX (-28.9 billion VND), DPM (-24.3 billion VND), and CII (-24 billion VND). On the buying side, notable stocks include VIC (+92.3 billion VND), VIX (+54.5 billion VND), VHM (+43.8 billion VND), HVN (+41 billion VND), VND (+35 billion VND), EIB (+34.4 billion VND), MWG (+31.6 billion VND), and STB (+31.3 billion VND).
The Art of Market Manipulation: VN-Index’s Dangerous Dance with Blue Chips
The robust upward momentum witnessed right after the morning session opened today propelled the VN-Index into the March peak zone. However, this rally was solely driven by large-cap stocks. As these heavyweight stocks started to lose steam, the index gave back almost all of its gains, ending the day with a marginal increase of less than 1 point, despite being up nearly 16.5 points earlier.
Why Do People Still Choose to Deposit Money in Banks Even Though Other Investment Channels Are Active?
In just the first two months of the year, over 301 trillion VND in savings deposits from residents flowed into the banking system, despite rising gold prices and a booming stock market.
The Tax Saga: VN-Index Recovers, But Stocks Still Stranded
After almost two months since the market took a hit with the US imposing tariffs on multiple countries, with a significant 46% imposed on Vietnam, the VN-Index has recovered and returned to its previous peak. However, numerous stocks continue to struggle, with the exception of a few standouts from the Vin family.
The Market Pulse: Will Profit-Taking Pressure Emerge?
The VN-Index witnessed a negative turn with a significant surge in trading volume above the 20-day average. This indicates profit-taking pressure as the index retests the old peak from March 2025 (around the 1,320-1,340 point range), triggering market jitters. If selling pressure persists in upcoming sessions, the correction risk will escalate. The Stochastic Oscillator, a key indicator, has been in a downward trajectory after signaling a sell-off in the overbought zone. Investors are advised to exercise caution if the indicator falls out of this range in the near term.
“Markets Soaring High: Vietstock Daily Overview for May 21, 2025”
The VN-Index surged, dismissing the previous two sessions’ losses with the emergence of a White Marubozu candlestick pattern. This reflects a highly optimistic sentiment among investors. However, trading volume needs to show a marked improvement for the index to sustain its upward trajectory. If the VN-Index firmly holds above the current level, it may have the potential to revisit the old peak of March 2025 (around the 1,320-1,340 range). Notably, the MACD indicator has maintained a buy signal since late April 2025, boding well for the short-term outlook if this status quo persists.
