Markets

Market Pulse 25/09: Pressure Mounts on Blue-Chip Stocks

At the close of the morning session, the VN-Index edged up by 0.44 points to 1,657.9, the HNX-Index rose by 2.07 points to 279.35, and the UPCoM-Index gained 0.95 points to 110.5. Despite the overall market gains and the majority of stocks trading higher, several blue-chip stocks exerted significant downward pressure, preventing the market from making a more substantial advance.

Administrator

25 September, 2025

234

Market Struggles to Break Free Amid Pressure from Key Stocks

Source: VietstockFinance

Across all capitalization scales, positive trends were observed, with Large Cap up 0.05%, Mid Cap up 0.5%, Small Cap up 0.34%, and Micro Cap up 0.53%. Market-wide, 416 stocks rose (including 16 at their upper limit), outpacing 233 decliners (8 at their lower limit). Meanwhile, 951 stocks remained unchanged.

Despite the majority of stocks rising, the market’s gains were modest in the morning session due to significant pressure from banking, securities, food, software, and retail sectors.

In banking, notable declines included VPB (-1.11%), STB (-1.75%), and TPB (-1.02%), alongside other red-inked stocks like SHB, TCB, MBB, ACB, and CTG.

In securities, major players like SSI (-0.51%), SHS (-1.16%), and VCI (-0.23%) significantly impacted overall performance. Bright spots included VIX (+0.54%), MBS (+1.53%), and HCM (+0.19%), though these were insufficient to balance the market.

The food sector saw declines in MSN (-0.48%), VNM (-0.16%), VHC (-0.99%), and KDC (-0.39%). Software stocks like FPT fell 1.51%, while retail stocks such as MWG (-0.38%), PNJ (-1.26%), and FRT (-1.97%) also contributed to market pressure. Real estate giant VHM dropped 0.51%.

Conversely, efforts in real estate, construction engineering, mining, metallurgy, oil and gas, electrical equipment, and particularly transportation infrastructure sectors significantly supported the market.

Market Map at the End of the Morning Session, September 25

Source: VietstockFinance

Liquidity continued to improve compared to recent sessions, reaching over 16 trillion VND for the day.

10:40 AM: Bulls and Bears Battle for Points as Industrial Stocks Surge

The market experienced intense tug-of-war, with clear polarization evident on the map. Notably, industrial sector stocks surged, becoming a positive highlight.

Transportation infrastructure stocks exploded, with CII hitting its upper limit, VSC repeatedly touching its ceiling, and HHV rising 5.19%. In construction engineering, CDC quickly reached its upper limit, followed by VCG (+1.65%), LCG (+2.82%), and FCN (+2.43%).

Green dominated across various sectors, including real estate and oil and gas.

Conversely, banking stocks exerted considerable pressure. Red dominated large areas of the sector map by trading value, with VPB (-0.79%), SHB (-1.44%), STB (-1.4%), and CTG (-0.4%) declining.

Other large-cap stocks also impacted overall performance, including SSI, VND, SHS, VCI in securities; VHM in real estate; and FPT, MWG, MSN, HPG, and VNM, all losing ground.

Liquidity trended higher on the VN-Index, with trading value reaching 10.7 trillion VND, significantly above the recent five-session average.

Opening: Early Session Volatility

After ATO concluded with a 2.24-point gain, the VN-Index experienced continuous volatility and unpredictability.

By 9:30 AM, the VN-Index rose slightly by 1.09 points to 1,658.55, while the HNX-Index and UPCoM-Index also edged up. Liquidity remained subdued, with over 134 million shares traded, totaling nearly 3.6 trillion VND.

Green spread across the market map, with 308 advancing stocks, including 13 at their upper limit. Conversely, 124 stocks declined, with 7 at their lower limit. In key sectors like finance, real estate, and industry, green dominated large areas.

Among the few early gainers, CII stood out, heading for its second consecutive upper-limit session. Trading at 26,100 VND/share, CII saw nearly 19.2 million shares matched and a buy surplus of over 7.2 million shares.

Foreign investors were net buyers of this stock, with purchases totaling nearly 66 billion VND, far outpacing others. Overall foreign trading by 9:30 AM showed continued net selling, totaling nearly 168 billion VND.

Source: VietstockFinance

Globally, Asian markets opened mixed, with Nikkei 225 up 0.23% and All Ordinaries up 0.12%, while Hang Seng fell 0.05%, Shanghai Composite dropped 0.02%, and Singapore Straits Times declined 0.18%.

Wall Street marked its second consecutive decline overnight, with the S&P 500 falling 0.28% to 6,637.97, as AI giants Nvidia and Oracle faced continued pressure. The Nasdaq Composite lost 0.34% to 22,497.86, and the Dow Jones dropped 0.37% to 46,121.28.

Huy Khải

– 12:00 PM, September 25, 2025