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Vietnam’s stock market extended its uptrend into a seventh consecutive week, with the VN-Index reaching a new historical high after surpassing its prior peak from February 2026. Despite the index’s record level, the rally remained largely driven by large-cap stocks, while market breadth did not yet show a proportional improvement. The week also reflected a pattern of “green on the outside, red on the inside,” as declining stocks continued to outnumber gainers in several sessions.
On May 8, major indices finished mixed. The VN-Index rose 0.33% to 1,915.37 points, while the HNX-Index fell 0.51% to 246.49 points. Over the full week, the VN-Index gained 61.27 points (+3.3%), whereas the HNX-Index declined by 4.17 points (-1.66%). The week ended with the VN-Index at 1,915.37 points, up 3.3% versus the previous week.
In the week’s final session, VIC, BID and VHM were the main contributors, adding a total of 8 points to the VN-Index. In contrast, VJC and GAS were the largest detractors, reducing the index by nearly 1.5 points.
Sector performance remained relatively contained, with most sector indices moving within narrow ranges. Communications services led the market, up 1.18%, supported by gains in FOX (+1.8%), VNZ (+1.97%), FOC (+1.34%) and VNB (+1.39%).
Real estate and financials continued to post gains, led by large-cap names including VIC (+0.89%), VHM (+1.55%), NVL (+3.93%), VPI (+0.82%), VIX (+5.08%), SHB (+1.06%), BID (+3.79%), CTG (+1.12%) and MSB (+3.85%). However, several other stocks in these groups faced notable downside pressure, including VRE (-1.64%), CEO (-1.16%), PDR (-1.21%), KBC (-2.61%), NLG (-1.85%), HCM (-0.89%), VPB (-0.71%) and VND (-1.2%).
On the downside, information technology and utilities lagged. Sector leaders such as FPT (-1.51%), CMG (-0.54%), ELC (-0.87%) and GAS (-1.71%), POW (-2.44%), HDG (-1.76%) and NT2 (-5.54%) weighed on performance.
Foreign investors were net sellers for the week, with outflows of about 4 trillion dong across both exchanges. Outflows were 4.3 trillion dong on HOSE, while foreign investors remained net buyers on HNX, totaling over 258 billion dong.
ASP rose 39.65% over the week, extending gains with five consecutive limit-up sessions. The stock moved above the Upper Bollinger Band while volume stayed above the 20-day average, reflecting bullish sentiment. Technical indicators also pointed to short-term momentum, with MACD widening away from the Signal line, while the Stochastic Oscillator moved toward overbought territory, suggesting potential near-term volatility.
VNE fell 23.75% over the week, correcting across more than five sessions while tracking the Lower Bollinger Band. Volume remained above the 20-day average, indicating persistent selling pressure.
With the VN-Index setting a new historical high, the week underscored continued momentum, but also highlighted uneven participation. Large-cap leadership supported the index, while broader market improvement remained limited and foreign investors were net sellers overall.
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