Customers at a HDBank branch in Hà Nội. Shares of the lender, coded HDB, posted gains on Tuesday despite a bearish market day. — VNA/VNS Photo

Việt Nam's stock market retreated slightly on Tuesday, with the VN-Index dropping below the 1,250-point threshold as foreign investors continued their net selling trend.

On the Hồ Chí Minh Stock Exchange (HoSE), the VN-Index closed at 1,248.9 points, down by 2.31 points or 0.18 per cent.

Market breadth leaned negative, with 199 stocks declining and 119 advancing. Liquidity rose to VNĐ15.6 trillion (approximately US$613.5 million), a 31 per cent increase from the previous session.

The VN30-Index, which tracks the 30 largest stocks by market capitalisation on the HoSE, slipped slightly by 1.96 points, or 0.15 per cent, to 1,306.87 points. Among the VN30 stocks, 17 advanced, nine declined and four remained unchanged.

The market's downturn was led by banking blue chips, with the Bank for Foreign Trade of Vietnam (VCB) falling by 1.27 per cent, erasing more than 1.6 points from the VN-Index. The Bank for Investment and Development of Vietnam (BID) also dropped by 0.97 per cent, while Vietnam Rubber Group - Joint Stock Company (GVR) declined by 1.75 per cent.

However, gains in select large-cap stocks helped limit the market's losses. FPT Corporation (FPT) rose by 1.97 per cent, contributing over one point to the VN-Index.

Other notable gainers included Bao Viet Holdings (BVH), which surged by 6.33 per cent, the Ho Chi Minh City Development Joint Stock Commercial Bank (HDB), up 2.56 per cent and the Fortune Vietnam Joint Stock Commercial Bank (LPB), rising by 2.11 per cent.

Analysts from Việt Dragon Securities observed: “The market was quickly supported as it approached the 1,245-point level. Liquidity increased compared to the previous session but remained relatively low, reflecting cautious sentiment among investors as the market rebounded.

“The current recovery is primarily driven by reduced supply, as the market approaches its support zone. This trend may persist in the next trading session but remains technical in nature. The market is expected to remain cautious around the 1,245–1,255 point range, with risks of a pullback still present.

“Investors should remain cautious and closely monitor supply-demand dynamics to assess the market's stability. Given the low stability and underlying risks, prudent portfolio management is essential to avoid overexposure,” they added.

On the Hà Nội Stock Exchange (HNX), the HNX-Index also recorded a slight decline on Tuesday, dropping by 0.9 points, or 0.4 per cent, to 224.42 points.

During the session, over 52 million shares changed hands on the northern bourse, valued at VNĐ911 billion.

Foreign investors extended their selling streak, offloading VNĐ226 billion on the HoSE and VNĐ49.5 billion on the HNX. — VNS