The benchmark index for the Ho Chi Minh City Stock Exchange plunged during early week trading, at one point losing 36 points. This downturn was driven by cautious investor sentiment amid escalating Middle East tensions. The index later narrowed its decline and briefly returned to positive territory. However, this recovery was short-lived as late-session selling pressure intensified.
The VN-Index closed at 1,846 points, down 34 points from its reference level. The VN30 index, representing large-cap stocks, fell by 51 points, equivalent to nearly 2,5% from its reference.
The Ho Chi Minh City market was dominated by red, with 244 declining stocks against only about 100 gaining stocks. The real estate sector bore the brunt of the selling pressure, particularly stocks linked to Vingroup. VIC dropped nearly 3%, while VHM hit its floor price with nearly one million units pending sale. These two stocks were the top contributors to the VN-Index's negative performance. Shares of other real estate developers, such as NVL, NLG, and PDR, also fell by 4% or more.
In the banking sector, selling pressure focused on large-cap stocks like BID, CTG, TCB, HDB, and VCB, which saw corrections exceeding 3%. STB was a rare exception in this group, gaining points and helping to curb the overall index's decline.
The securities sector faced intense selling pressure. VIX lost nearly 5%, followed by smaller-cap stocks such as VDS, AGR, and ORS. Red also prevailed in the steel sector. HSG led the correction with a 2,8% drop, followed by NKG and HPG, which fluctuated between 1% and 2%.
The oil and gas sector was the only industry to buck the market trend, as oil prices surged following the outbreak of conflict. All oil and gas stocks, from large to small capitalization, including GAS, PLX, BSR, OIL, POW, and PVD, hit their ceiling prices with no sellers. Some stocks recorded over 10 million units in pending buy orders.
The simultaneous selling pressure dramatically pushed up market liquidity. Today's matched order value exceeded 47,000 billion VND, 1,5 times higher than late last week. This also marked the highest level since late 10/2025. HPG topped the liquidity rankings with nearly 2,500 billion VND. SSI, FPT, and STB followed respectively.
Foreign investors took advantage of the deep correction to disburse capital. They bought over 4,900 billion VND worth of shares, while selling less than 4,200 billion VND. HPG was the main focus for foreign capital, with a net purchase volume of approximately 13 million shares.
According to the analysis by the research team at MB Securities Company, the market may see a correction this week after nearly half a month of strong gains. As the index approaches the 1,900-point mark, it is likely to face volatility. However, this correction will help the market build momentum to rise and surpass previous highs, supported by favorable seasonal factors and cash flow.
Phuong Dong
