Blue-chip stocks rebound as VN30 leads gains in morning trading

Blue-chip stocks rebounded in morning trading, with the VN30 index leading gains and helping support liquidity across the broader market. The VN-Index was up 0.61% despite early selling pressure at higher price levels.

Market performance and breadth

Market breadth narrowed over time alongside a mild pullback in the VN-Index, suggesting resistance was emerging. The index reached an intraday high shortly after the open, rising 1.45% (about 25.47 points). By the end of the morning session, the gain was trimmed to 0.61% (about 10.69 points).

Breadth also weakened as the session progressed: at 9:22, there were 217 gainers versus 34 decliners; at 10:00, 199 gainers versus 79 decliners; and at 11:00, 157 gainers versus 127 decliners, ending the morning at 157 gainers versus 135 decliners.

Widening selling pressure at higher prices

Price retreat breadth indicated strengthening selling pressure. At the highest price point, 196 stocks rose more than 1% (about 55% of traded stocks), but by the end of the morning only 58 stocks were up more than 1% (16.3%). This suggests that more than half of the market had fallen at least 1% from its peak, pointing to selling dominance within the intraday range.

Liquidity and HoSE trading

Despite the retreat in breadth, selling pressure was not described as severe. Total liquidity on HoSE fell 5% versus yesterday morning, reaching 9.35 trillion dong excluding negotiated deals. Only about 50 stocks declined more than 1%, representing 19.1% of the total matched value on the exchange. SHB accounted for the largest selling activity, trading about 637.1 billion dong, while other declining “red-name” stocks showed relatively smaller liquidity, implying buyers were the main issue rather than heavy liquidation.

VN30 support and stock movers

The VN30 basket provided notable support, with 22 gainers and 5 decliners and the index up 0.91%. Key blue-chip contributors included VIC (+2.31%), VPB (+2.04%), HPG (+1.80%), HDB (+1.16%), LPB (+2.29%), and ACB (+1.05%).

The five decliners were VNM (-0.96%), SHB (-1.00%), VIB (-0.28%), PLX (-0.25%), and GAS (-0.25%). Although all 30 VN30 members retreated to some degree, the number of declining stocks was not large. Twenty of the 30 were down more than 1% from their intraday highs.

Among red stocks, examples of wider downside included GAS (-1.35% before reversing), PLX (-1.46%), SHB (-1.98%), VIB (-1.12%), and VNM (-2.05%). SHB stood out with high trading volume (around 637.1 billion dong), while the rest showed low liquidity, again pointing to buyer-side weakness as the main driver.

Foreign flows and impact

Foreign investors remained net sellers on HoSE, selling around 746 billion dong and buying around 896 billion dong, for a net outflow of 149 billion dong. Selling was heavier in quantity but not described as large in magnitude.

Largest net selling included FPT (-70.3 billion dong), VCB (-31.9 billion), BID (-31.8 billion), NVL (-29.3 billion), and VNM (-29.2 billion). On the buying side, HPG (+142.7 billion dong), MBB (+54.1 billion), VIC (+38.9 billion), GMD (+34.2 billion), and TCH (+31.3 billion) were the main supports.

Overall, most stocks traded within a narrow range and liquidity remained limited. Gains were largely driven by major constituents such as VIC, VPB, and HPG, which together contributed nearly 8 points to the VN-Index’s total morning gain of 10.69 points.