HÀ NỘI — Việt Nam’s stock market ended the second trading week of June in negative territory, with the benchmark VN-Index falling below the 1,320-point mark due to broad-based selling pressure, despite a liquidity surge to a near one-month high and gains in oil and gas and banking stocks.

Selling pressure intensified early on Friday (June 14), dragging the VN-Index to as low as 1,308 points in the morning session. Although the market made a mild recovery attempt later in the day, it remained mired in red throughout the session, mirroring the downbeat sentiment seen across major Asian markets.

At the close, the VN-Index lost 7.5 points, or 0.57 per cent, to settle at 1,315.49. Market breadth tilted sharply towards the losers, with 263 stocks declining and only 69 gaining. On the Hochiminh Stock Exchange (HoSE), total trading value soared to VNĐ27.1 trillion (approximately US$1 billion), marking the highest level in nearly a month and a 36.86 per cent increase from the previous session.

The market experienced wide intraday swings, with the session’s low nearing 1,304 points. Out of 19 industry groups, 16 posted losses. However, banking, utilities and especially oil and gas stocks managed to hold onto gains, helping cushion the index against deeper losses.

Among banking stocks, VietinBank (CTG) stood out, gaining 3.6 per cent at the close and reaching an intraday high of 5.8 per cent in the morning. With trading value exceeding VNĐ946 billion, CTG was the biggest positive contributor to the VN-Index on Friday. Other major bank stocks, including MBBank (MBB), Techcombank (TCB), Vietcombank (VCB), and BIDV (BID), also finished in positive territory, while the majority of remaining banking stocks declined.

Oil and gas stocks led the market's contrarian movement. After a morning of consolidation, Petrolimex (PLX) surged to the daily limit, closing at VNĐ37,700 and maintaining this level through to the end of the session. With a trading value of nearly VNĐ202 billion, PLX was one of only two stocks on HoSE to hit the ceiling and the only one in the VN30 basket to do so. It also ranked as the third-highest contributor to the VN-Index.

Oil and gas stocks on other exchanges also posted gains, including PetroVietnam Technical Services Corporation (PVS), PetroVietnam Drilling and Well Services Corporation (PVD), Bình Sơn Refining and Petrochemical JSC (BSR), and PetroVietnam Oil Corporation (OIL). The sector was buoyed by geopolitical tensions, particularly Israel’s airstrikes on Iran — one of OPEC’s three largest oil producers — which raised concerns about potential global supply disruptions. Iran currently produces around 3.2 million barrels per day, equivalent to about 3 per cent of global supply.

Meanwhile, foreign investors, after a day of mixed trading, ended with a slight net sell of VNĐ98 billion. CTG was the most purchased stock by foreign investors, while they offloaded shares in VIX, FPT Corporation (FPT), and Saigon – Hanoi Commercial Joint Stock Bank (SHB).

Despite the unusually high liquidity and some bright spots among leading stocks, profit-taking and cautious investor sentiment continued to weigh on the VN-Index’s short-term outlook. — VNS