Market slows as VN-Index struggles near previous peak
At the end of the session, the VN-Index edged up by 0.62 points to close at 1,313.46. Trading volume reached nearly 718 million shares, equivalent to more than VNĐ16.89 trillion (US$651.5 million) in value.
HÀ NỘI — Việt Nam’s stock market saw a muted performance on May 23 as liquidity declined and the benchmark index fluctuated within a narrow range, with investors showing renewed caution following a solid upward streak in previous weeks.
At the end of the session, the VN-Index edged up by 0.62 points to close at 1,313.46. Trading volume reached nearly 718 million shares, equivalent to more than VNĐ16.89 trillion (US$651.5 million) in value.
On the HOSE, 162 stocks advanced, 150 declined and 54 closed flat. Meanwhile, the HNX-Index dropped 0.47 points to 216.32, with over 58.3 million shares traded for a total value of VNĐ1.17 trillion. The northern bourse recorded 72 gainers, 86 losers and 59 unchanged.
The VN30 basket showed strong divergence, with 15 gainers, 12 losers and 3 flat stocks. Large-cap stocks contributing positively included GAS (+3.28%), VRE (+1.18%), ACB (+1.17%) and VHM (+1.03%). On the contrary, stocks such as BCM, VCB, BID, CTG, PLX, HPG, MSN and TCB exerted downward pressure, preventing the market from breaking through. Securities and oil & gas stocks continued to fall into the red, weighing on overall sentiment.
Foreign investors returned to net selling on HOSE with a total value of over VNĐ141 billion, led by FPT (VNĐ126.22 billion), MSN (VNĐ108.22 billion), MWG (VNĐ88.57 billion) and HCM (VNĐ66.1 billion). On the HNX, they also net sold more than VNĐ44 billion, focusing on PVS (VNĐ19.03 billion) and NTP (VNĐ10.51 billion).
Analysts at Saigon-Hanoi Securities JSC (SHS) commented: “In the short term, the VN-Index remains in an upward trend but is facing correction pressure around its previous peak – the highest level reached in March 2025. Selling pressure intensified towards the end of the week, while demand at higher price levels showed signs of weakening.
This movement aligns with earlier forecasts and reflects investor caution after a strong rebound, primarily led by VN30 and Vingroup-related stocks. In the short term, the index may retreat to the support zone around 1,300 points.”
“Investors should maintain a balanced portfolio, prioritising stocks with solid fundamentals and leading positions in strategic sectors of the economy. New disbursements should be selective and tied to the real growth potential of businesses,” SHS advised. — VNS
