Major blue-chip stocks lift the index as shares rise cautiously

The VN-Index closed up 0.95%, equivalent to +16.69 points, improving from the morning close, which had risen 0.61% (+10.69 points). However, the VN30 basket showed a different tone, with as many as 17 constituents falling versus the morning. Among the 10 gainers in VN30, only the blue-chip names recorded meaningful moves.

Afternoon rebound led by VHM and VIC

As the afternoon session began, VHM posted a sharp rally. In the morning, VHM rose 0.73%, but the afternoon saw a strong up-move, particularly near the close. VHM finished the session up 4.88% from the reference price, meaning the afternoon alone added 4.12%. VIC also improved by about 1.1% and closed up 3.44% for the day. Together, VHM and VIC contributed nearly 15 points to the VN-Index’s gain.

Beyond the two leaders, only SHB and DGC logged gains above 1% in the afternoon. SHB had been red throughout the morning and even fell near the day’s low at 2:15 PM, but in the final 15 minutes the price rose and closed up 0.67%. Compared with the morning, SHB rose 1.68%, and from the day’s low it recovered 2.03%. DGC saw an unexpected surge from around 2 PM onward, swinging +4.6% intraday within six minutes and peaking at +5.52% versus the reference. DGC closed up 3.68%, with the afternoon session alone accounting for a +2.93% change.

Market breadth improves, but fewer stocks rise more than 1%

Support from VIC and VHM helped lift the VN-Index in the afternoon, though it did not reclaim the morning’s highs. Price breadth improved slightly, with 173 advancers and 135 decliners, compared with 157 advancers and 135 decliners in the morning. On HoSE, 77 stocks rose more than 1% versus 58 in the morning, but the overall price level did not strengthen materially.

Liquidity remains a key factor

One reason many stocks did not extend gains further was weak liquidity. HoSE’s afternoon session recorded a 16.4% increase in matched value versus the morning, driven mainly by VN30, while Midcap and Smallcap declined. VN30’s gains were most evident in HPG, SHB, VIC, and VHM—stocks with strong price momentum. These four accounted for about 47% of VN30’s additional liquidity and about 26% of HoSE’s turnover in the afternoon.

Notable mid-cap gains

Excluding VN30 constituents, HoSE had nine stocks with liquidity above 100 billion and notable gains. HSG and NKG hit the ceiling. HAG rose 3.36% on 273.9 billion; TCH rose 1.17% on 272.2 billion; VND rose 1.2% on 164.9 billion; GMD rose 1.5% on 147.2 billion; DBC rose 4.99% on 133.7 billion; and BAF rose 2% on 102.1 billion.

Downside: similar number of decliners, but heavier selling in weaker names

On the downside, the number of declining stocks was roughly the same, and declines over 1% were similar. The difference was that weaker names from the morning were being sold with sizable liquidity. BSR led this group with liquidity of 453.2 billion, down 3.84%. Compared with the morning, BSR’s price fell further and liquidity doubled. Other stocks trading over 100 billion that fell included GEX (-1.2%), VCK (-1.08%), VSC (-1.2%), DCM (-2.13%), DPM (-2.05%), STB (-1.78%), and VNM (-1.27%).

Foreign flows improve; net selling narrows

Foreign investors improved their activity in the afternoon, with turnover up 109% versus the morning and net selling down 41%. The afternoon net position turned positive at +303.3 billion, compared with -149.6 billion in the morning. VIC was bought strongly at +185 billion, followed by HPG (+180.9 billion), MBB (+132 billion), VHM (+69.6 billion), GMD (+52.6 billion), and MSN (+46.3 billion). On the selling side, FPT recorded -190.9 billion and BID -61.4 billion.

What it suggests for the session

With VN30 blue chips dominating and their liquidity accounting for 53.2% of HoSE’s total—the highest in four sessions—it remains unclear whether larger money has started to move in or whether investors are concentrating more on blue chips. Liquidity increases were seen in individual trades including HPG, SHB, VHM, and VIC.