VN-Index rises above 1,800 points as VIC and VHM lead gains; breadth shows more decliners

Although the VN-Index closed the morning session up 1%, only VIC and VHM contributed more points than the index itself. Market breadth was also negative, with decliners outnumbering advancers by 2.3 times. The VinGroup stock group continued to provide the main support, sustaining a “green on the surface, red at heart” pattern.

Market performance and key contributors

The VN-Index closed at 1,818.74 points, up a total of 18.09 points. VIC rose 6.27% and VHM rose 4.45%, together contributing more than 24 points. Other Vin-related stocks also gained, including VPL up 1.79% and VRE up 0.85%.

Outside the Vin group, MWG rose 1.75% and VPB rose 1.1%. On the downside, the weakest names included VJC (-2.92%), GVR (-2.27%), SHB (-1.62%), SAB (-1.08%), and FPT (-1.07%). None of these heavily red stocks were among the index’s top 10 by market capitalization.

VN30 basket: gains but broad selling pressure

The VN30-Index finished the morning up 0.83%, led by VIC and VHM. However, the basket had 9 gainers and 19 decliners. Liquidity in the VN30 basket rose nearly 27% versus yesterday, exceeding 5.3 trillion. Despite this improvement, VIC and VHM accounted for more than 30% of the basket’s total turnover.

If VIC and VHM trades are excluded, VN30 basket liquidity would rise only about 5.3% versus yesterday. Excluding VPB, all other stocks in the basket declined to some degree. Ten stocks fell at least 1% from their intraday highs, while the best breadth level reached 24 green, indicating that price declines widened as the session progressed.

Broader market breadth and weakening momentum

HoSE breadth at its best was 108 advancers versus 133 decliners, ending with 89 advancers and 208 decliners. While 81 stocks remained in the green, few were described as truly strong. The overall pattern suggested that most stocks were weak from the start, with selling pressure intensifying over time.

Notable gainers (HoSE)

Several stocks posted gains with reported turnover figures, including MWG up 1.63% (269 billion), POW up 1.53% (241.1 billion), VPB up 1.1% (154.4 billion), MSB up 1.2% (77.6 billion), KBC up 2.55% (67.1 billion), DGW up 1.23% (29.6 billion), and BFC up 1.2% (18.4 billion).

Turnover, foreign flows, and market interpretation

Total turnover on the HoSE morning session rose 5.7% versus yesterday, but excluding VIC and VHM it fell 4.4%. This points to weaker overall fund participation. The breadth narrowing was described as reflecting acceptance of selling at red prices, while profit-taking demand appeared to be spreading as cash-rich investors waited on the sidelines.

Foreign investors were net selling nearly 973 billion on HoSE, the highest in 13 morning sessions. The largest net sell trades included VHM (-496.6 billion), FPT (-230.5 billion), VIX (-75.6 billion), and HCM (-68.4 billion). On the buy side, foreign investors bought VIC (+326.5 billion), SSI (+128.2 billion), and HPG (+47.8 billion).