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Right before the ceasefire deadline expired, President Donald Trump announced extending the agreement by another two weeks. Despite the extension, global stock markets reacted cautiously, with most indexes falling while crude oil futures moved toward $100 per barrel.
Asian stocks opened with mixed performance and narrow trading ranges. In Vietnam, the VN-Index fell 0.46% (-8.4 points) on very low liquidity. Total matched value across the two exchanges declined by about 34% versus the previous day, to nearly VND 7,938 billion, excluding negotiated deals.
Liquidity dynamics were notably different from the earlier reaction to the news. When the announcement first hit, order-matched liquidity across the two exchanges surged nearly threefold versus the prior session and prices rose sharply. This morning, however, liquidity stayed extremely low and red dominated the board.
In the opening minutes, the VN-Index was slightly green and peaked at 9:45 with a gain of 4.77 points (0.42%). Market breadth was strongest early, at 151 advancers versus 98 decliners. By the morning close, breadth weakened to 88 advancers versus 210 decliners.
The combination of falling prices and ultra-low liquidity pointed to cautious capital. Instead of buying into the prolonged easing, investors appeared directionless and largely stayed on the sidelines. While heavyweight blue chips weighed on the VN-Index, breadth suggested weakness was broad-based.
Among major names, VIC closed the morning down 0.1%, VHM down 2.26%, VCB down 0.5%, and HPG down 1.58%. Of the top 10 by market capitalization, only TCB rose 1.53% and CTG was flat; the remainder were in the red. In the VN30 basket, there were 5 gainers and 23 decliners, with the VN30-Index down 0.57% as liquidity fell 36% versus yesterday, indicating large-cap flows also paused.
Buying interest remained limited, restricting upside among stronger names. Only 8 stocks rose more than 1% with turnover of at least 10 billion dong: NVL (+2.82%), TCB (+1.53%), DGC (+3.38%), CII (+1.34%), VIX (+1.17%), PVT (+1.81%), MSB (+2.01%), and NAB (+1.48%). Overall, 43 stocks rose by 1% or more, accounting for 17.6% of the market’s liquidity.
Liquidity was also concentrated: roughly 50% of HoSE’s liquidity was concentrated in 35% of stocks that traded in a very narrow range. This suggests the red dominance may not be driven by aggressive selling, but rather by weak demand.
Foreign investors also cut back buying intensity this morning. HoSE foreign disbursement was VND 921.1 billion, down 47% from yesterday. Selling fell 24% to VND 1,067.8 billion, resulting in a net position of -VND 146.6 billion.
Foreign net buying was mainly concentrated in the FUEVFVND ETF, with VND 283.4 billion. Additional net buys included MWG (+80.7), DGC (+42.5), VIC (+28.6), and MSN (+22). On the sell side, notable net reductions were recorded in FPT (-127.3), VHM (-51.8), NVL (-46.6), and HPG (-38.9).
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