Việt Nam’s stock market rallied on Tuesday, led by the Vin Group ecosystem, as the VN-Index climbed back above the psychological threshold of 1,315 points. Liquidity, however, declined sharply, while foreign investors extended their net-selling streak.

On the Hồ Chí Minh Stock Exchange (HoSE), the VN-Index rose by 10.47 points, or 0.8 per cent, to close at 1,317.33 points. Market breadth was broadly positive, with 206 gainers compared to 98 decliners. Trading value dropped significantly to VNĐ15 trillion (approximately US$584.2 million), with more than 620 million shares changing hands.

The VN30-Index, which tracks the 30 largest capitalised stocks, also advanced 13.03 points, or 0.96 per cent, to 1,376.91 points. Within the VN30 basket, 22 stocks gained, five declined and three remained unchanged.

The rally was primarily driven by Vin Group stocks. Vinhomes JSC (VHM) led the uptrend, rising 3.31 per cent and contributing more than 1.7 points to the VN-Index. It was followed by Vingroup JSC (VIC), which rose 2.93 per cent.

Banking stocks also performed positively. Notably, Vietcombank (VCB) gained 0.78 per cent, Techcombank (TCB) added 1.64 per cent, Military Bank (MBB) increased 2.07 per cent and Sacombank (STB) rose 3.66 per cent.

On the downside, FPT Digital Retail JSC (FRT) plunged 6.67 per cent, Vietnam Rubber Group (GVR) fell 1.7 per cent and Masan Group Corporation (MSN) dropped 0.9 per cent.

According to analysts at Saigon – Hanoi Securities (SHS): “VN-Index has concluded a strong rally from 1,220 to around 1,340 points and is currently undergoing a correction phase to test key support levels. The short-term trend has shifted into an adjustment and accumulation phase, with the nearest support located around 1,300 points — equivalent to the highest level recorded in 2024 so far. The index is also testing the long-term accumulation channel after breaking out in late February 2024.

“In the short term, we previously advised against further disbursement at higher price ranges. However, with the current correction towards the 1,280–1,300 point range, we consider this an attractive zone for medium to long-term accumulation. Market divergence is expected to increase, based on Q1 business results and growth prospects for 2025.

“Investors holding average-weight portfolios should limit selling at this stage. Any new positions should be selected carefully, focusing on stocks with solid fundamentals and positive growth outlooks. Investment targets should prioritise industry-leading firms in strategic sectors that benefit from Việt Nam’s economic growth,” SHS added.

On the Hà Nội Stock Exchange (HNX), the HNX-Index climbed 0.58 per cent to 236.42 points, with a trading value exceeding VNĐ1.1 trillion and more than 74 million shares exchanged.

Meanwhile, foreign investors remained net sellers on Tuesday, offloading over VNĐ439 billion worth of shares on the HoSE. — VNS

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