VN-Index snaps five-day rising streak on rising selling force

VN-Index snaps five-day rising streak on rising selling force

A key driver behind the index correction was the weakening of Vin-family stocks after a strong rally phase. In particular, Vinhomes (VHM) dropped 5.17 per cent, Vincom Retail (VRE) fell 3.38 per cent and Vingroup (VIC) decreased 0.74 per cent, contributing notable pressure to the broader market.

A store of Mobile World Investment Corporation in Tuyên Quang Province. Shares of the company hit the biggest daily gain of 7 per cent on Friday, cushioning the market's benchmark losses. — Photo thegioididong.com

The stock market was mixed on Friday as the VN-Index reversed slightly under selling pressure near a strong resistance level, while weaker Vingroup stocks and more cautious money flow weighed on sentiment.

The VN-Index on the Ho Chi Minh Stock Exchange (HoSE) fell 2.66 points, or 0.15 per cent, to 1,817.17 points. Earlier in the session, the benchmark maintained an upward trend and even reached an intraday peak of 1,846.19 points.

However, this level was described as a strong technical resistance zone around 1,840 points, where selling pressure increased quickly, pulling the index lower into the close.

Liquidity also declined. Total trading value on HoSE reached more than VNĐ23.4 trillion, with over 742 million shares traded.

Compared with previous sessions when turnover had exceeded VNĐ27 trillion, the figure suggested that capital had become more cautious as prices had already risen.

In such conditions, profit-taking became widespread, with many stocks posting strong gains during the day but failing to hold momentum to the close as the market lacked price consensus from trading flow.

Even with the index pulling back, the market was not broadly negative. On HoSE, there were 178 advancing stocks and 146 declining.

The VN30 basket remained positive, with the index up 8.92 points, or 0.45 per cent, to 1,988.11 points, offering support despite weakness in some leading names.

A key driver behind the index correction was the weakening of Vin-family stocks after a strong rally phase. In particular, Vinhomes (VHM) dropped 5.17 per cent, Vincom Retail (VRE) fell 3.38 per cent and Vingroup (VIC) decreased 0.74 per cent, contributing notable pressure to the broader market.

The day’s bright spot came from Mobile World Investment Corporation (MWG), which surged 6.89 per cent after a long period of sideways movement. Large-cap names such as FPT Corporation (FPT), up 2.56 per cent, and Masan Group (MSN), up 1.92 per cent, also helped cushion the decline.

On the Hanoi Stock Exchange (HNX), the HNX-Index extended gains. It rose 3.51 points, or 1.37 per cent, to 260 points.

Another supportive signal was foreign flow trends. After a streak of strong net selling, foreign investors reportedly returned to net buying, with a light net purchase of VNĐ110.3 billion on HoSE. 

Bizhub