Market mixed as VN-Index struggles around 1,370-point level

Market mixed as VN-Index struggles around 1,370-point level

Despite a strong start in the morning, with blue chips performing well and briefly lifting the VN-Index past 1,370 points, the index lost momentum by the end of the session.

A worker harvests latex at a rubber plantation in Lâm Đồng Province. Shares of the Việt Nam Rubber Group (GVR) led the gainers on Wednesday as the VN-Index posted a slight decline. — VNA/VNS Photo

Việt Nam’s stock market edged down slightly on Wednesday, with the VN-Index unable to sustain earlier gains above the 1,370-point level, as selling pressure intensified in the afternoon session. Liquidity also declined, though foreign investors continued their net buying streak.

Despite a strong start in the morning, with blue chips performing well and briefly lifting the VN-Index past 1,370 points, the index lost momentum by the end of the session. Profit-taking activity increased, dragging the index marginally into negative territory.

At the close, the VN-Index on the Hồ Chí Minh Stock Exchange (HoSE) fell by a marginal 0.02 points to 1,366.75 points. Market breadth leaned towards the negative, with 169 stocks declining compared to 129 gainers.

Liquidity dropped by 15.6 per cent from the previous session to VNĐ21.6 trillion (approximately US$825.8 million), reflecting cautious investor sentiment.

The VN30-Index, which tracks the top 30 largest companies by market capitalisation and liquidity on HoSE, added 2.56 points or 0.18 per cent. Within this basket, 15 stocks gained, 11 declined, and four ended flat.

Manufacturing stocks had a positive day, leading the gainers. Notably, Vietnam Rubber Group Joint Stock Company (GVR) rose by 3.88 per cent, contributing over 1.1 points to the VN-Index.

Other notable gainers included Vinhomes JSC (VHM), up 0.78 per cent, Masan Group Corporation (MSN), which advanced 1.59 per cent, and Hoa Phat Group Joint Stock Company (HPG), which climbed 0.74 per cent.

On the downside, several stocks weighed on the market, led by PetroVietnam Gas Joint Stock Corporation (GAS). The gas giant recorded its third decline in the past four sessions, shedding 2.3 per cent and erasing nearly 0.9 points from the VN-Index.

Analysts at Saigon – Hanoi Securities (SHS) said: “In the short term, the VN-Index continues to maintain an upward trend above the support zone of 1,335 points. Having surpassed the key resistance zone around 1,350 points, the VN-Index is aiming for the 1,370–1,380-point range, and potentially even the 1,400–1,420-point target as outlined in our 2025 market strategy report. Meanwhile, the VN30 is heading towards the 1,470–1,500-point zone, which corresponds to the lower range of its historical highs recorded from November 2021 to March 2022.”

They added: “The overall market outlook remains positive, and the index is gradually approaching our long-term targets. However, given the recent rallies and the index nearing key resistance levels, this is not an ideal time to increase positions aggressively. Any new entries should be based on a careful assessment of fundamental factors, company valuations and Q2 2025 earnings results, along with growth prospects for the second half of the year.”

On the Hà Nội Stock Exchange (HNX), the HNX-Index inched down by 0.13 points or 0.06 per cent to close at 227.66 points. The total trading value on the northern bourse reached nearly VNĐ1.9 trillion, equivalent to over 105 million shares changing hands. 

Bizhub