After a strong rally on Tuesday, the stock market experienced volatility on Wednesday but still managed to close higher, with the VN-Index reclaiming the 1,670-point level.
The market opened on an upbeat note and at one point climbed to 1,695 points. However, selling pressure built up and weighed on sentiment. Despite the turbulence, the benchmark index ended the day with gains.
At the close, the VN-Index on the Hồ Chí Minh Stock Exchange (HoSE) advanced 5.15 points, or 0.31 per cent, to 1,672.78 points. Market breadth leaned towards gainers, with 169 advancers against 149 decliners.
Liquidity improved markedly, rising 20 per cent from the previous session to VNĐ47.3 trillion (approximately US$1.79 billion).
The VN30-Index, which tracks the 30 largest stocks by market capitalisation and liquidity, edged down slightly by 0.5 points, or 0.03 per cent, to 1,848.55 points. Within the basket, 16 stocks declined and 14 gained.
The day’s main driver was Vietcombank (VCB), which hit its ceiling price with a surge of 6.97 per cent, contributing more than 9.3 points to the VN-Index. Other notable gainers included FPT Corporation (FPT), up 5 per cent, Bank for Investment and Development of Việt Nam (BID), up 2.39 per cent, and VIX Securities (VIX), up 5.74 per cent.
On the downside, several large-cap stocks weighed on the market. Leading the decliners was Vingroup (VIC), down 2.58 per cent. Vietnam Prosperity Joint Stock Commercial Bank (VPB) slipped 2.92 per cent, Fortune Vietnam Joint Stock Commercial Bank (LPB) lost 3.74 per cent, and Hòa Phát Group (HPG) fell 1.65 per cent.
According to market analysis from Saigon–Hanoi Securities (SHS), the VN-Index’s short-term uptrend remains intact, supported by the 20-session moving average and the key psychological threshold of 1,600 points. The index is now retesting the previous peak range of 1,680–1,700 points under the positive influence of banking stocks, while the VN30 is testing the 1,880-point level.
SHS analysts noted: “In the short term, the market has shown strong momentum, largely due to sharp corrections in earlier sessions that reduced margin debt levels, easing selling pressure and paving the way for a robust rebound led by large-cap stocks such as VIC and VHM breaking previous highs.
"However, after heavy selling pressure, the recovery and gains will likely diverge. Many speculative and low-growth stocks could face renewed selling when the VN-Index approaches the 1,700-point area. Investors should carefully review portfolios and consider trimming weaker positions.”
On the Hà Nội Stock Exchange (HNX), the HNX-Index added 0.59 points, or 0.21 per cent, to 276.38 points, with a trading value exceeding VNĐ3 trillion, equivalent to more than 130 million shares changing hands. — VNS