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 continues to decrease sharply, foreign investors net sold nearly 1,700 billion
The ability to hold large stocks still had a positive impact on the score, helping the VN-Index to only slightly decrease by less than 6 points at the end of the session. However, the stock price situation did not improve, and the number of stocks that fell deeply increased. In particular, foreign investors pushed up selling to nearly 1,700 billion on all three exchanges, the highest level.
- Signal: Neutral
- Impact on: VIC, VHM, VCB, CTG, TCB, VPB, FPT, VNM, STB, VIX
- Comment: The fact that foreign investors increased their net selling by nearly VND1,700 billion on all three exchanges is a negative signal, creating significant pressure on investor sentiment in the short term and showing the caution of foreign capital flows. Investors should closely monitor this development, especially the trend of large-cap stocks, and consider risk management by reducing the proportion or maintaining an observation position. Domestic cash flows need to show better absorption to stabilize the market.
VN-Index decreased for 2 consecutive sessions, what do securities companies think about the opportunity to overcome resistance?
VnEconomy introduces comments and investment recommendations of a number of securities companies on market developments on September 18, 2025.
- Signal: Neutral
- Impact on: BVSC, BSC, HSX, HNX, SHS, TVS, YSVN, LLC, TMCP, VCBS
- Comments: The market has fallen for two consecutive sessions, along with comments from securities companies, showing a divergence in views. Investors need to carefully review in-depth analysis reports to assess the recovery potential of the VN-Index and look for industry groups with good fundamentals or that benefit from policies. The timing of disbursement should be chosen carefully, prioritizing stocks with attractive valuations and clear business prospects in the medium term.
Large stocks try to "anchor" VN-Index, the number of codes decreasing is twice the number of those increasing
The Fed’s interest rate cut last night was not enough to stimulate domestic enthusiasm. Stocks were in the red all morning, despite some large-cap stocks trying to support the VN-Index.
- Signal: Negative
- Impact on: VIC, VHM, STB, VRE, SSI, LPB, MSN, GAS, VCB, DXG
- Comment: The fact that large-cap stocks are trying to maintain the pace of the VN-Index while the number of stocks falling overwhelmingly shows that the market is in a broad correction phase, reflecting cautious sentiment after the news about the FED and selling pressure. Investors should focus on stocks with solid financial health and less sensitive to general market fluctuations. Avoid catching the bottom early when the downtrend is still strong, prioritize keeping cash and wait for a clearer bottom signal for a new uptrend.
Will VN-Index fall back to 1600 to gain strength to bounce back to 1900 points?
The index may retest the 1600 point zone (+/-20 points) to absorb low-price supply, before aiming to retest the 1700 point resistance in the fourth quarter.
- Signal: Neutral
- Impact on: FTSE, VIC, VHM, HPG, VCB, MSN, VNM, VRE, SSI, MSCI
- Comment: The scenario of VN-Index falling back to the 1600 point area to absorb the supply pressure is a well-founded assessment, showing that the market may need a deeper correction before having a strong upward momentum towards 1900 points. This is an opportunity for long-term investors to accumulate quality stocks at better prices. However, risk management is still the top priority, especially when the market may face fluctuations in the process of finding a new equilibrium point. Disbursement should be carried out according to a partial capital allocation strategy.
Weak bottom fishing money
The derivatives expiration session was quite peaceful, the VNI and VN30 indices changed slightly but stocks continued to correct widely. In particular, liquidity decreased significantly and active demand was weak. Near the peak but psychology was quite indifferent to supporting information.
- Signal: Neutral
- Impact on: VNI, VIC, HSX, HNX, VHM
- Comment: The sharp decline in liquidity and weak active demand while the market is adjusting widely shows that the bottom-fishing cash flow is still very cautious and not strong enough to support the market. This situation reflects a wait-and-see mentality and lack of confidence in the current price range. Investors should avoid hasty actions and need to patiently observe the improvement of cash flow, especially large cash flow, before making buying decisions. The risk of a deeper correction still exists if demand continues to weaken.
Foreign funds: The stock market is sensitive due to relatively high valuations.
As of the end of August, VNAllshare's trailing 12-month P/E ratio stood at 15.1x, compared to 14.2x for SET Thailand and 10.5x for PCOMP Philippines.
- Signal: Neutral
- Impact on: SET, HCM, HSX, FTSE, HOSE, FDI
- Comment: Foreign funds' view on the valuation of the Vietnamese stock market is at a relatively high level, especially compared to other markets in the region, which is a factor that investors need to pay attention to. This partly explains the caution of foreign capital flows and recent net selling pressure. Investors should prioritize stocks with solid fundamentals, clear growth prospects and reasonable valuations instead of chasing hot stocks. Carefully evaluating valuations before investing will help minimize risks in a sensitive market context.
Sky-high housing prices, many real estate businesses still struggle to pay off debts
In the context of the real estate market not yet fully recovered, cash flow is scarce, many real estate businesses are having difficulty paying bond interest to investors even though the interest is not too large.
- Signal: Positive
- Impact on: HPX, NVL, HNX, TDG, HDBS, HCM, VBMA
- Comment: The news that house prices remain high can be seen as a potential positive signal for the stability of the real estate market, although many businesses are still facing liquidity challenges. The struggle of real estate businesses to pay off bonds can accelerate the restructuring process of the industry, creating opportunities for businesses with solid foundations to rise. Investors need to be very selective, focusing on businesses with the ability to manage cash flow effectively and quality assets, avoiding stocks with high debt risk and insolvency. This is the stage to carefully evaluate the asset quality and long-term prospects of each business.
Why does VPBankS set ambitious growth targets for the next 5 years?
From the stock market's recovery, upgrade expectations, IPO prospects, strong investment in technology, and cooperation in the ecosystem, VPBankS sets a target of compound growth of 32%/year in 5 years; ROE, ROA about twice the current securities industry average by 2030.
- Signal: Neutral
- Impact on: NHU, CTCP, CAGR, SMBC, CHO, TMCP, VPB
- Comment: VPBankS’ ambitious growth target, based on the stock market’s recovery, upgrade expectations and technology investment, shows the strong growth potential of the financial services industry. This is a positive signal for the securities and banking stocks, especially those with clear strategies and supported by a solid ecosystem. Investors can consider stocks in this industry with a medium- and long-term vision, especially those with sustainable profit growth prospects and attractive valuations. However, it is necessary to closely monitor the implementation of targets and the macro environment.
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.
