VN-Index retreats below 1,300 points as market starts week on a weak note

VN-Index retreats below 1,300 points as market starts week on a weak note

At the close, the VN-Index on the Hồ Chí Minh Stock Exchange (HoSE) dropped 5.1 points, or 0.39 per cent, to 1,269.29.

GELEX Tower in Hà Nội. Shares of Gelex Electricity Joint Stock Company (GEE) hit the daily limit up on Monday, despite the market’s overall decline. — Photo gelex.vn

Việt Nam’s stock market opened the week with a decline on Monday as the VN-Index dipped below the psychological threshold of 1,300 points. Liquidity improved slightly compared to last Friday’s session, while foreign investors continued to sell.

The market started the day in the red, with VN-Index at one point losing over nine points, before regaining ground towards the end of the morning session and early afternoon. However, selling pressure intensified in the final trading hour, dragging the index lower.

At the close, the VN-Index on the Hồ Chí Minh Stock Exchange (HoSE) dropped 5.1 points, or 0.39 per cent, to 1,269.29. Market breadth was negative, with 216 decliners overwhelming 110 gainers. Market liquidity rose 8.2 per cent to VNĐ22.4 trillion (US$863.4 million), with more than 900 million shares changing hands.

The VN30-Index, tracking the 30 largest listed firms by market capitalisation, also edged down 4.69 points, or 0.34 per cent, to 1,379.75. The basket saw 22 losers, seven gainers and one stock staying flat.

Leading the losses was Vinpearl Joint Stock Company (VPL), which saw its first decline after four consecutive strong sessions since its market debut. VPL lost 2.77 per cent, shaving over one point off the VN-Index.

Other notable losers included Vietcombank (VCB), down 0.87 per cent, LienVietPostBank (LPB), down 3.82 per cent and tech giant FPT Corporation (FPT), down 2.31 per cent.

On the upside, gains from a few large-cap stocks helped cushion the index. Most notably, Vingroup (VIC) surged to the ceiling price, rising seven per cent and contributing nearly 5.5 points to the Index. Vinhomes (VHM) rose 1.38 per cent, Gelex Electricity (GEE) hit its daily limit of 6.97 per cent, and VPBank (VPB) edged up 0.83 per cent.

Analysts from Saigon – Hanoi Securities (SHS), said: “In the short term, VN-Index is showing signs of returning to a growth trend above the 1,300-point support level. After surpassing the key resistance at 1,300 points, the index is expected to test the March 2025 highs in the range of 1,320–1,340 points.”

They added: “While the market is rebounding to pre-tariff-announcement levels, regardless of the outcome, reciprocal tariffs will still be imposed, which will impact macro balances and business operations. We have just released a new report assessing the potential impact of tariffs, which we hope will support investors in their decision-making.”

SHS warned that although many stocks remain reasonably valued based on fundamentals, the VN-Index has already recovered significantly from the 1,080–1,130 range to revisit the 1,320–1,340 zone.

On the northern bourse, the HNX-Index fell 1.45 points, or 0.66 per cent, to close at 217.24. Total trading value on the exchange reached VNĐ947 billion with more than 62 million shares traded. 

Bizhub