VN-Index likely to head towards 1,820-1,840 points this week

VN-Index likely to head towards 1,820-1,840 points this week

Following Friday's breakout, securities companies saw signs of improving market conditions, although liquidity remained an important indicator to monitor.

Traders work in a trading room of a securities firm in Hà Nội. —VNA/VNS Photo

The stock market rebounded last week, with the VN-Index gaining more than 2 per cent as a broad-based rally in the final session offset subdued trading earlier in the week, although liquidity remained well below its longer-term average. 

The benchmark spent most of the week fluctuating around 1,730 points as investors remained cautious following the previous correction. 

A turning point came on Friday, when stronger buying demand spread across the market and pushed the VN-Index to its intraday high at the close.

The VN-Index, representing the Hochiminh Stock Exchange (HoSE) finished the week at 1,768.12 points, gaining 2.26 per cent from the previous week. 

On the Hanoi Stock Exchange (HNX), the HNX-Index rose 1.46 per cent to 284.07 points.

Despite the rebound, liquidity remained weak. Trading activity fell to its lowest level since early 2025 and was about 24 per cent below the 20-week average.

On the HoSE, average matching volume reached 583 million shares per session, down more than 15 per cent from the previous week, while average trading value declined nearly 12 per cent to VNĐ15.16 trillion (US$580 million).

Nguyễn Thế Minh, director of investment banking at An Binh Securities, said capital was rotating between sectors rather than leaving the market.

Such rotation helped ease selling pressure on the broader market, although matched turnover on HoSE remained below VNĐ20 trillion, indicating that investors were still cautious.

One of the week's most closely watched developments was FTSE Russell's September 2026 semi-annual review of the FTSE Global Equity Index Series (GEIS) for Asia-Pacific excluding Japan and China.

Under the list announced on August 21, 27 Vietnamese stocks were added to the FTSE All-Cap across the Large Cap, Mid Cap and Small Cap segments.

Vietcombank (VCB), Vingroup (VIC) and Vinhomes (VHM) were classified as large-cap stocks, while BIDV (BID), Hoa Phat Group (HPG) and VPBank (VPB) entered the mid-cap segment.

Another 21 stocks were classified as small-cap constituents, including FPT Corporation (FPT), Gelex Group (GEX), HDBank (HDB) and Ho Chi Minh City Securities (HCM).

The review attracted particular attention as Việt Nam prepares to officially transition from frontier to secondary emerging-market status under FTSE Russell, effective September 21.

Expectations surrounding the FTSE announcement were also considered a factor supporting sentiment in Friday's session. 

Securities stocks rallied broadly before the review results were released, helping buying demand spread more widely across the market.

According to Yuanta Securities, Vietnamese stocks added to the FTSE GEIS indices could attract an estimated $1.5 billion once the full allocation process is completed.

Around $150 million is expected in the initial allocation, an amount Yuanta said would not be large enough to have a uniform impact across the market. The remaining approximately $1.35 billion is expected to be deployed over three subsequent phases through September 2027.

Following Friday's breakout, securities companies saw signs of improving market conditions, although liquidity remained an important indicator to monitor. 

Kafi Securities expects the VN-Index to move towards the 1,820-1,840-point resistance zone this week. 

It said investors could consider opening new positions and increasing exposure to profitable holdings, while avoiding chasing stocks during periods of market excitement and instead waiting for corrections to secure safer entry points.

Tien Phong Securities (TPS), however, said the VN-Index had only regained short-term equilibrium.

It identified the 1,780-1,800-point area as an important resistance zone that would need to be overcome before a clearer change in trend could be confirmed.

Friday's rally helped the market recover part of the losses recorded during the previous correction, but weekly liquidity remained subdued and foreign investors continued to be net sellers. 

Market attention is therefore expected to remain focused on whether buying demand can strengthen and broaden as the VN-Index approaches the 1,780-1,800-point resistance area. 

Bizhub