HANOI – Vietnam’s stock market wrapped up a highly volatile week with a gain of over one hundred points in its benchmark index, the VN-Index. The index closed at a new record high above 1,747 points in the final trading session, capping a remarkable weekly advance of nearly 102 points, driven primarily by positive sentiment surrounding market upgrade news.
The VN-Index’s chart maintained its strong green trajectory throughout Friday’s closing session. Following the opening auction (ATO), the market experienced a brief correction, pulling the index close to the reference level, but it quickly recovered. For most of the morning, the index consolidated around the 1,725–1,730 point range, establishing an initial record.
Afternoon Rally Secures Record Close
Liquidity increased in the afternoon session, with buying interest maintaining the upper hand. This momentum quickly propelled the index past the 1,740 point mark after 2:00 PM. Although the market met resistance as profit-taking selling orders appeared, the subsequent decline was moderate. After 2:20 PM, the index rebounded to and then surpassed the 1,740 level.
The VN-Index ultimately closed above 1,747 points, more than 31 points above the reference level, setting yet another market record. The total weekly gain amounted to nearly 102 points, largely attributed to the ongoing buzz regarding the market’s potential upgrade status.
On the HoSE exchange, 177 stocks ended in the green, with eight hitting the maximum permissible daily increase (ceiling price). Conversely, 125 codes declined. The widening gap between gaining and losing stocks, combined with the VN-Index closing at its highest point of the day, suggests an improving market consensus.
“Vin” Conglomerate Drives Gains Despite Net Foreign Selling
Key contributors to the overall index gain were the “Vin” duo: VIC (Vingroup) and VHM (Vinhomes). Both stocks hit their maximum daily limit, reaching VND 192,000 and VND 123,000 per unit, respectively—both all-time high price zones for the respective companies.
Despite the significant rise in points, liquidity on the HoSE moved in the opposite direction. The total trading value for the day reached over VND 33.9 trillion, a slight decrease of nearly VND 500 billion compared to the previous session.
Foreign investors continued to be net sellers for the day, offloading approximately VND 460 billion. However, this selling volume was only about 29% of the previous day’s figure. Heavily net-sold stocks included VPB, MSN, CTG, VRE, MBB, VCI, SSI, and VIX. On the buying side, strong net purchases of codes like HPG, VHM, VIC, and FPThelped to partially counterbalance the selling pressure.
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Upgrade Hopes and Analyst Outlook Fuel Momentum
This week’s rally marked a strong break out from the 1,650 point area, where the VN-Index had consolidated for the past month. The market has posted four consecutive daily increases, comfortably crossing 1,700 points and setting multiple records. The market upgrade information has served as the primary catalyst for the current price surge. Liquidity has also improved, with four sessions recording volumes above VND 30 trillion, indicating that cash flows observing from the sidelines have returned.
In a pre-market report, VPBank Securities (VPBankS) suggested that if the index decisively overcomes the 1,720-1,725 point range, the next target could be 1,750–1,780 points. The analysis team recommended that investors maintain their holdings in uptrend stocks and increase purchases during minor market corrections at the support zone around 1,700 points, prioritizing stocks with strong price accumulation bases and attracting cash flow.
Meanwhile, Vietcombank Securities (VCBS) previously advised that, in addition to maintaining portfolios of trending stocks, investors could selectively disburse funds for short-term investment into industry groups attracting attention as companies gradually release their third-quarter business results.
