The stock market bulletin records notable developments, providing investors with multi-dimensional information about trends and growth potential. Below is a summary of some of the highlights and analysis of the market situation in the form of a bulletin.
Liquidity "froze" amid tug-of-war trading ahead of the derivatives expiration session.
The market returned to a sideways trading pattern with a narrow range as demand weakened due to cautious sentiment ahead of the futures contract expiration. Trading volume on both exchanges decreased sharply, reflecting indecisiveness from both individual and institutional investors.
- Signal: Neutral
- Impact on: VHM, CTG, VPB, HPG, VIC, VCB, BID, MBB, FPT, DGC
- Analysis: Weak liquidity indicates a wait-and-see sentiment is prevailing. In the short term, investors should avoid trading based on emotions and focus on stocks with strong fundamentals. In the medium term, this is a necessary accumulation phase as the market prepares for a new uptrend. Trading strategies should prioritize holding leading stocks with stable cash inflows in recent sessions.
Large-cap stocks saw profit-taking, putting pressure on the VN-Index.
The simultaneous technical correction of blue-chip stocks after a series of gains has caused the VN-Index to lose short-term upward momentum. A large amount of low-priced shares were released, creating localized pressure, especially in the financial and technology sectors.
- Signal: Neutral
- Impact on: VIC, VCB, ATC, TCB, GAS, VPB, HPG, MBB, FPT, SHB
- Analysis: Technical selling pressure is normal after strong rallies, especially in the VN30 group. This phenomenon may open up opportunities for medium-term investors to accumulate at better price levels. In the short term, caution is needed with stocks that have risen sharply, and partial profit-taking should be considered to protect gains. Investors should monitor the strength of capital flowing back into this group in the coming sessions to assess the actual demand.
The move to repurchase certificates from the VEIL fund has raised concerns among investors about market liquidity.
VEIL's implementation of a partial fund certificate repurchase program through Tender Offer to support shareholder liquidity has raised concerns among many investors about the possibility of capital withdrawal and short-term supply pressure.
- Signal: Negative
- Impacts on: VEIL, VEF, GBP, AGM, YTD, FDI, KBSV
- Assessment: The withdrawal or buyback of capital by large investment funds like VEIL could put pressure on investor sentiment, especially in affected stock groups. In the short term, the market may witness strong divergence between sectors. Investors should temporarily limit trading in stocks directly related to VEIL components and closely monitor foreign capital flows. The recommended strategy is to restructure into stock groups with inherent advantages and less influence from ETFs.
Capital from ETFs has not yet flowed into the Vietnamese market.
Despite net buying by foreign investors in many countries in the region, Vietnam continued to experience a net outflow of $6 million. This indicates that cautious sentiment remains present in the domestic market on the regional investment map.
- Signal: Neutral
- Impact on: FTSE, VPL, VIC, STB, VCB, HPG, FPT, MBB
- Assessment: The continued outflow of ETF capital raises questions about the relative attractiveness of the Vietnamese market compared to the region. However, this could be an accumulation opportunity for long-term investors if corporate profits improve in the medium term. Investors should prioritize a strategy of selecting stocks with growth potential and carefully analyze the ownership structure of funds influencing those stocks. Risk management through appropriate portfolio allocation and regular monitoring of capital flow reports is essential.
The VN-Index is projected to fluctuate significantly between 1,300 and 2,188 points in 2026.
Projections suggest that despite the possibility of a deep correction to the 1,300-point level, the VN-Index is still expected to recover broadly to new highs thanks to smart money flows and expectations of macroeconomic growth.
- Signal: Neutral
- Affects: ABS, DXY, FDI, FTSE
- Analysis: The wide volatility of the index creates significant opportunities for cyclical investment strategies. In the short term, investors should avoid allocating their capital to minimize the risk of a deep correction. However, for the medium to long term, it is advisable to diversify purchases at strong support levels and focus on stocks benefiting from public investment, exports, and digital transformation. Monitoring medium-term cash flow and macroeconomic news will help determine the optimal time to increase investment allocation.
Public investment opens up opportunities for the construction sector to dominate the market in 2026.
Expected double-digit profit growth next year is driving speculative capital flows into infrastructure construction stocks. The current valuations of many construction companies remain attractive compared to their actual potential.
- Signal: Positive
- Impact on: MBS, FDI, CTD, VCG, HHV, CII, LCG
- Assessment: Public investment is a key driver supporting the market in the medium term, especially given the government's commitment to accelerating capital disbursement. Construction stocks have strong growth potential in both revenue and profit margins. A reasonable strategy at this stage is to gradually invest in leading stocks, prioritizing companies with large backlogs and strong construction capabilities. The main risk comes from the disbursement schedule; investors need to closely monitor policy information from government agencies.
US stocks fell for a third consecutive session, with global markets affected by jobs data.
The SP500 recorded a three-day losing streak as global investors reacted negatively to disappointing economic data, particularly on employment. This also dragged world oil prices back to their lowest levels in five years.
- Signal: Neutral
- Impacts: BLS, CNBC, WTI, AAA, OPEC
- Assessment: A cautious sentiment is spreading across markets as less-than-positive economic data raises concerns about a global recession. However, for Vietnam, the impact is primarily psychological. In the short term, caution is advised regarding stocks related to oil and gas and exports. In the long term, this could be an opportunity to buy at a significant discount if the global market stabilizes. Investors are advised to closely monitor macroeconomic information in the US to adjust their strategies accordingly.
Gold prices adjusted lower after surprising US labor market data.
After the US jobs report showed a weakening labor market, gold prices reversed course and fell as investors expected the Federal Reserve to potentially lower interest rates sooner than anticipated.
- Signal: Neutral
- Impacts: BLS, RJO, SPDR
- Analysis: The movement of gold prices indicates that the market is adjusting its expectations regarding monetary policy, indirectly impacting interest rate-sensitive stock groups such as banks. In the short term, investors should pay attention to global interest rate fluctuations to revalue financial stocks. In the long term, the correction in gold prices could create opportunities for accumulation if the global economic outlook worsens and safe-haven demand returns. Risk management should be implemented through portfolio diversification.
The stock market news bulletin aims to provide investors with an overview, while emphasizing the importance of careful analysis before making investment decisions. Following market news from HVA The provision will help investors seize opportunities from short-term fluctuations and adjust their portfolios in line with market trends.
