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Liquidity on both exchanges increased by 10% in the afternoon session versus the morning, but stock prices did not weaken further. The VN-Index closed the day down 1.08% (-18.73 points), close to the morning decline of -1.09%. Market breadth improved slightly: HoSE reported 138 gainers and 205 decliners, compared with 91 gainers and 226 decliners in the morning.
Despite the improved breadth, price levels did not recover clearly. Stocks under strong selling pressure still fell relatively sharply, though losses were not deeper than earlier in the day. By the end of the session, 132 stocks declined by more than 1% (improved from 150 in the morning). The number of stocks down more than 2% was 65, similar to the morning figure of 72.
A notable shift occurred among rebound stocks. On HoSE, 83 stocks rose more than 1% from the reference, including several high-liquidity mid-cap and large-cap names. VCG, DPM, NVL, GEG and PAC reached their daily ceiling. Other gainers included DGC (+4.12%), BSR (+4.56%), DCM (+4.26%), EVF (+2.08%), GEL (+3.6%), GEX (+1.03%), PC1 (+2.25%) and CII (+2.53%), with liquidity above 200 billion VND per stock.
While the number of stocks rising more than 1% trailed those falling more than 1%, capital inflow appeared broadly similar. Specifically, the 83 strongest HoSE stocks contributed 31.4% of total matched value, while the 132 weakest stocks accounted for 46%. Overall dispersion was not clear-cut, but stocks attracting strong cash inflows rose noticeably—suggesting stock-picking rather than a uniform, market-wide profit-taking reversal.
Support was limited by weaker performance among blue-chips. If large-cap stocks had held up better, the VN-Index could have eased further. The VN30 basket ended with only 6 gainers and 23 decliners, and 16 of the top-10 market cap stocks fell by more than 2%. Among the 10 large-cap stocks with potential to drive the index, only VHM held the index; the rest declined, including BID (-2.28%), CTG (-2.28%), GAS (-4.17%), TCB (-3.54%), MBB (-2.05%), HPG (-2.19%) and VPB (-2.65%).
Compared with the morning session, blue-chip improvements were not evident. In VN30, 15 stocks rose versus 12 that fell. VIC dropped 1.36% and closed below the reference by 0.68%, pulling the VN-Index away from an important momentum. Oil-related stocks also weakened, with GAS down 1.3% and PLX down 1.7%.
Foreign investors switched to net buying in the afternoon. Net purchases increased by 75% versus the morning session to +278.1 billion VND, after being net sellers of 487.4 billion VND earlier. This additional buying helped reduce the scale of selling after two days of net buying totaling around 2.2 trillion VND on HoSE.
Notable foreign sell-offs included FPT (-125.6 bn), VHM (-97.5 bn), TMS (-92.5 bn), BSR (-85.3 bn), HPG (-78.5 bn), PLX (-76.2 bn) and SSI (-71.9 bn). On the buy side, foreigners added to positions in MWG (+244.9 bn), VNM (+98.9 bn), VCI (+65.1 bn), DPM (+55.3 bn) and DGC (+51 bn).
Today’s VN-Index decline was less significant than the number of stocks experiencing deep losses. Market breadth suggested profit-taking was common and aligned with the market’s expected scenario. Investors who bought the dip and booked favorable gains may consider taking some profits, which is described as normal.
From a liquidity perspective, HoSE’s afternoon liquidity fell 6.2%, the lowest level in 13 sessions, indicating a lack of heavy short-term selling pressure.
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