•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
Vietnam’s VN-Index posted its fourth consecutive weekly gain, rising 3.84% to 1,817 points and holding the psychological 1,800 level while gradually moving toward the 1,850 zone. The VN30 basket also increased 3.11% to 1,988, though resistance remains near the 2,000-point mark.
Market upside was largely driven by VIC and VHM, both part of the Vingroup conglomerate. Over the week, VIC added nearly 63 points to the index, while VHM contributed about 14 points.
Market breadth was generally positive, but dispersion was evident across sectors. Real estate led gains, followed by retail, agriculture and steel. By contrast, insurance, pharmaceuticals and oil and gas saw selling pressure.
Liquidity rose modestly in value for the week, but turnover fell by about 2.2% compared with the prior week. Money flow tended to concentrate in blue-chip names and stocks with strong story catalysts.
Foreign investors remained a drag on sentiment, recording a net outflow of nearly 4.5 trillion VND on HoSE. The year-to-date total net outflow rose to over 38.5 trillion VND. Selling pressure was concentrated on VHM and FPT, while VIC saw notable net buying.
Globally, U.S. stocks rose sharply on Friday (April 17), extending weekly highs after Iran said it was moving toward opening the Hormuz Strait amid a ceasefire between Israel and Lebanon. However, on Saturday (April 18), Iran stated it still controlled the Hormuz Strait.
Nguyen Duc Khang, Head of Equity Analysis at Pinetree Securities, said cautious money flow implies short-term risks of a pullback. He noted the market closed above 1,800 points with VIC and VHM contributing over 70% of the index’s gains, supported by MWG, but liquidity declined slightly and selling pressure toward the end of the week suggested a cautious mood. He also pointed to a Doji-dominated technical pattern, reflecting indecision and elevated profit-taking pressure.
Khang added that the final trading week before the holiday may bring a consolidation phase. Investors were advised to limit leverage, be cautious with new long positions, and actively take profits to protect gains.
SHS (Saigon-Hanoi Securities) analysts said the VN-Index has risen four weeks in a row—from around 1,600 to about 1,850—driven by large-cap stocks, suggesting short-term downside risk is normal. They identified the Vingroup cluster as the main driver, but noted it faces near-term selling pressure as it tests historical highs. SHS expects limited near-term upside unless more positive sectors strengthen and liquidity improves. They suggested maintaining current exposures, monitoring Middle East developments, and waiting for Q1 margin data, with increasing exposure only if the market experiences appropriate pullbacks.
The market regulator UBCKNN warned about some entities publishing market analyses and investment recommendations without proper licensing. An enforcement action was taken against ITP Investment JSC for posting analyses and giving investment recommendations without authorization. Investors were advised to be cautious with online sources, as unlicensed investment advice can be sanctioned under the law.
Premium gym chains are entering a “golden era” that is ending or already in decline, as rising operating costs collide with shifting consumer preferences toward more flexible, community-based ways to exercise. Long-term memberships are shrinking, margins are pressured by higher rents and facility expenses, and competition from smaller, more personalized…
