Late-session surge flips market from deep losses to strong gains, fueled by banking, brokerage, and real estate stocks.
HO CHI MINH CITY — Vietnam’s stock market roared back to life on Tuesday after a sudden afternoon wave of buying erased early losses and propelled the VN-Index up 35 points, marking its strongest accumulation session in a month.
The day began with gloom. Analysts widely expected further correction as selling pressure persisted, sending the benchmark index down nearly 17 points, close to the psychological 1,600-point support level. But as prices hit that key zone, buyers flooded in. Within minutes, dozens of major stocks reversed course, igniting a broad-based rally that pushed the VN-Index to close near 1,652 points, while the VN30 Index — representing large-cap shares — climbed 40 points, nearing the 1,900 level.
Market breadth turned decisively positive, with 190 gainers and 22 stocks hitting their daily limit-up. The brokerage sector led the rebound: VIX, VCI, VND, and SSI all surged to ceiling prices with massive buying volume between 2–7 million shares. Property developers joined the rally as DXG, DXS, PDR, CII, and VRE locked at their daily highs after several sessions of sharp losses.
Banks were another highlight. VPBank (VPB) soared to its upper limit at VND 29,500, while Techcombank (TCB), VIB, Sacombank (STB), and VietinBank (CTG) each gained more than 3%. In the steel sector, Hoa Phat Group (HPG) rose nearly 3% to VND 26,750, signaling renewed strength in industrial plays.
Not all sectors joined the rally — aviation, oil & gas, fertilizers, and logistics remained under pressure, with FPT and GAS leading large-cap decliners, each down around 1.6%.
Still, the overall sentiment was unmistakably bullish. Market liquidity surged to VND 33.8 trillion ($1.34 billion) on the Ho Chi Minh Stock Exchange, up roughly VND 4 trillion from Monday. Six stocks recorded over VND 1 trillion in matched orders, led by SSI, VIX, SHB, FPT, MWG, and HDB.
Foreign investors returned aggressively, net buying more than VND 1.2 trillion ($48 million) after several weeks of caution. The VIX ticker was the top magnet for overseas capital with over 12 million shares purchased, followed by strong inflows into MBB, VPB, and ACB.
After weeks of volatility, Tuesday’s rally offered a glimpse of renewed confidence. With local liquidity improving and foreign funds re-engaging, Vietnam’s equity market appears poised for a potential trend reversal — signaling that investors may once again be ready to bet on Southeast Asia’s fastest-growing frontier economy.
