VN-Index breaks below 1,700 threshold on low liquidity

VN-Index breaks below 1,700 threshold on low liquidity

Technical indicators continued to show signs of recovery, but analysts flagged that the index's failure to hold the 1,700–1,720 resistance zone could raise the risk of short-term supply pressure.

At a yard storage of Hoa Phat Group. Shares of the steel producer tumbled 2.56 per cent on Friday, leading the market's downtrend. — Photo hoaphat.com.vn

Selling pressure swept through Việt Nam's stock market on Friday, pushing the VN-Index below the 1,700 mark even as investors hunted for individual stocks with idiosyncratic stories.

The benchmark briefly climbed above 1,710 on buying interest in Vinpearl (VPL) and Vinhomes (VHM) but reversed as thin liquidity failed to sustain gains, leaving the index near 1,685 at the close.

On the Ho Chi Minh Stock Exchange (HoSE), the VN-Index finished the week at 1,684.04 points, down 10.78 points, or 0.64 per cent. Technical indicators continued to show signs of recovery, but analysts warned that the index's failure to hold the 1,700–1,720 resistance zone could increase the risk of short-term supply pressure.

Market breadth remained negative, with 233 advancers versus 78 decliners. Trading value on HoSE fell from the previous session to more than VNĐ21.1 trillion ($802 million).

The VN30-Index also declined 15.56 points, or 0.84 per cent, to 1,837.43 points. Twenty-two stocks in the VN30 basket fell, while six gained and two remained unchanged.

Heavyweights weighed on the index, with Hoa Phat Group (HPG) the largest drag, shaving roughly 1.12 points off the VN-Index. It was followed by Gelex Electricity (GEE), down 6.72 per cent, while BIDV (BID) dropped 1.64 per cent, Techcombank (TCB) fell 2 per cent and Vietcombank (VCB) decreased 0.86 per cent.

Despite the broad sell-off, investors focused on several pockets of the market where company-specific developments drove demand. Securities stocks and property names attracted particular attention.

Ho Chi Minh Securities (HSC) extended its run, marking a ninth consecutive session of gains with daily turnover averaging 14–15 million shares. The rally followed the firm’s release of documents for its 2026 annual general meeting, proposing a VNĐ4.92 trillion increase in charter capital to more than VNĐ15.7 trillion.

Novaland (NVL) also stood out among real estate stocks, rising nearly 3 per cent after regaining eligibility for margin trading and reporting a return to profit on its audited consolidated financial statements for 2025. NVL's removal from HoSE's list of stocks ineligible for margin trading in the second quarter of 2026 effectively unlocked the ticker for leveraged purchases, drawing renewed buying interest.

DGC of Duc Giang Chemicals Group extended its winning streak to a fourth session, lifting its cumulative gain to more than 14.4 per cent and pushing the share price above VNĐ56,500.

On the Hanoi Stock Exchange (HNX), the HNX-Index also fell 1.68 points, or 0.67 per cent, to 248.68 points.

Foreign investors returned to net selling after previously purchasing over VNĐ3 trillion on HoSE. On Friday, they net sold VNĐ1.57 trillion on the southern bourse. 

Bizhub