Following Vingroup stocks escaping floor prices in last friday's session, many analysis groups anticipated a continued recovery. This expectation suggested that the benchmark index for the Ho Chi Minh City exchange would break its two-session losing streak.
Monday's market performance aligned with these predictions, as four Vingroup-affiliated stocks saw strong increases, helping the VN-Index maintain positive territory throughout the trading day. The index expanded its gains towards the end of the session, closing near 1,755 points.
The Vingroup group collectively contributed 16 points to monday's rally. VIC had the most significant impact on the index and market sentiment, rising 3% to nearly 160,000 VND. VHM hit its ceiling price of 117,700 VND today, with buy orders exceeding 300,000 shares.
This optimism spread across the Ho Chi Minh City exchange, with positive sentiment prevailing. Nearly 190 stocks closed above their reference prices, while fewer than 130 declined. In the large-cap basket, 19 stocks advanced, four times the number of declining stocks.
By sector, real estate performed best. In addition to Vingroup-related stocks, NVL rose to its full limit, reaching 14,150 VND, closing with no sellers. Mid- and small-cap stocks such as NLG, AGG, QCG, and HQC all increased by over 1,5% from their reference prices.
Oil and gas stocks also positively impacted monday's rally. GAS briefly touched its ceiling of 75,400 VND before narrowing its gain to 6,5%. Other stocks in this group, including PVD, OIL, BSR, and PLX, accumulated gains of 3-4%.
Conversely, the banking sector – the market's largest by capitalization – showed significant divergence. STB rose nearly 4% to almost 60,000 VND, far surpassing the gains of LPB, ACB, TCB, and CTG. On the downside, EIB faced selling pressure, losing 1,2% of its market value. SHB, OCB, VAB, VPB, and TPB all closed below their reference prices.
The securities sector showed a similar mixed performance. While VCK and TVB saw gains, dozens of stocks in the group declined or remained at their reference prices. Leading stocks like SSI, TCX, VCI, and VND all closed in the red.
Despite the index improvement, market liquidity significantly weakened. Today's matching order value reached over 22 trillion VND, half of last friday's session. The Ho Chi Minh City exchange only had two stocks with over one trillion VND in liquidity: STB (1.326 billion VND) and VIC (1.053 billion VND).
Another pessimistic sign was the foreign investors' selling streak, which extended into a second session. This group disbursed nearly 2.5 trillion VND but sold over 2.6 trillion VND.
According to most securities companies, the VN-Index will likely continue to fluctuate, interspersed with short-term technical corrections. This process aims to absorb supply pressure and re-accumulate before establishing a clearer trend signal. Many analysts also mentioned the risk of correction in their forecasts for stock market performance in the final week of the year. The common scenario suggests that the overall trend has not been broken, but the market needs more time to find a balance point before re-accumulating.
Vietcombank Securities advises investors to consider reducing their holdings in stocks experiencing strong selling pressure. Investors should also monitor market strength in upcoming sessions and seek opportunities to disburse funds once the VN-Index stabilizes.
Phuong Dong
