Vietstock Daily 10/04/2026: Market cools after rally

VN-Index retreated after testing the 50-day and 100-day SMAs, with near-term volatility expected to persist until the index fully breaks these levels. Meanwhile, MACD continued to rise and approached zero; a move above zero in upcoming sessions would reinforce the positive outlook.

Baseline market performance as of 09/04/2026

Major indices closed lower on 09/04. The VN-Index fell 1.13% to 1,736.68 points, while the HNX-Index declined 0.92% to 250.98 points.

Trading activity

On HOSE, trading volume decreased 16.2% to nearly 940 million shares. On HNX, volume rose to over 80 million shares but was down 24.3% from the previous session.

Foreign flows

Foreign investors remained net sellers on HOSE, selling about 2.5 trillion VND. On HNX, they turned net buyers with purchases of more than 22 billion VND.

Cause and development: pressure after a strong rally

The market cooled notably after a strong rally the previous day. VN-Index opened lower, hovered around 1,750, and failed to reclaim the reference level as buying demand was not strong enough. Selling pressure increased, driving the index down by nearly 20 points by late morning. In the afternoon, the index attempted to recover and losses narrowed at times, but selling pressure returned near the close—particularly among blue chips—leaving VN-Index at 1,736.68, down 1.13% versus the prior session.

Large-cap drag

Downward pressure was concentrated in large-cap stocks. VS-LargeCap fell 1.26%, suggesting the leadership of bellwethers remained fragile. Mid-cap and small-cap segments were more mixed, with VS-MidCap and VS-SmallCap declining less.

Impact: top contributors and major decliners

The 10 stocks with the largest negative contributions reduced VN-Index by nearly 16 points, with VIC alone accounting for 6.8 points. On the upside, NVL, HPG, and LPB were among the top positive contributors, but each added only slightly more than 1 point to the index.

VN30 snapshot

The VN30-Index fell 16 points (-0.83%) to 1,915.01. Losers outnumbered gainers at 22 to 7, with 1 unchanged. VPL and DGC were the worst performers, down 5.9% and 4.7% respectively. VIC, PLX, SSI, VJC, and BID also declined by more than 2%.

On the upside, SHB and LPB rose over 1%, while the remaining gainers edged higher.

Sector pressure

Energy saw the strongest selling pressure, with multiple stocks falling: BSR (-2.72%), PLX (-2.47%), PVS (-1.83%), OIL (-2.07%), PVD (-1.67%), and PVT (-1.36%).

Pillar sectors and counter-trend names

Pillar sectors such as financials, real estate, and industrials also exerted notable pressure. Heavyweights included VCB (-1.33%), BID (-2.05%), CTG (-1.41%), VPB (-1.81%), and HDB (-1.14%); VIC (-2.74%), VHM (-0.81%), KSF (-2.28%), and SSH (-3.61%); and VJC (-2.06%), GEE (-2.59%), HVN (-1.54%), and GMD (-1.21%).

Demand remained favorable for some counter-trend names, including SHB (+1.31%), LPB (+1.05%), NVL (+6.03%), DXG (+2.36%), KBC (+1.35%), IJC (+4.90%), HDC (+1.59%), DXS (+2.39%), GEX (+3.32%), VCG (+3.15%), HHV (+5.31%), LCG (+3.92%), and FCN (+4.51%).

Trend and price dynamics

VN-Index: MACD approaching zero

VN-Index corrected after testing the 50-day and 100-day SMAs. Near-term volatility may persist until these levels are breached. MACD continued to climb toward zero; if it crosses above zero in subsequent sessions, the positive outlook would be solidified.

HNX-Index: range around the 50-day SMA

HNX-Index wobbled around the 50-day SMA, which is expected to be an important test in coming sessions. The Stochastic Oscillator and MACD remained positive after buy signals, suggesting limited near-term risk.

Money flow

Smart money momentum: the Negative Volume Index for VN-Index was below the 20-day EMA. If this condition persists into the next session, downside thrust risk may rise.

Money flow from foreign investors: foreigners remained net sellers on 09/04/2026. If this pattern continues, volatility may persist.

Market statistics for 09/04/2026