The Vietnamese stock market had declined for the fourth consecutive week. On the first trading day of the last week, the VN-Index suffered a drop of nearly 48 points, the sharpest correction since the end of March, thus decisively breaking through the psychological support of 1,800 points.

After a sharp drop, the VN-Index attempted to stabilize in subsequent sessions, but market demand remained limited. At the end of the week, the VN-Index closed at 1,792 points, down 47 points, or 2.5%, compared to the previous week.

More worryingly, liquidity continues to weaken and has fallen to its lowest level in over a year, indicating that cautious sentiment prevails and bargain-hunting capital has not yet truly entered the market.

Foreign investors maintained net selling with a value of over VND3 trillion on the HOSE, although the trading volume narrowed significantly compared to the previous week. Selling pressure was mainly concentrated on large-cap stocks such as VPB, VHM, TCB, MSN, and MBB. Conversely, net buying in some stocks like ACB and VIC was not enough to create a significant change in the market trend. 

This morning, VN-Index opened at 1,804 points and is now moving around this level.

According to BSC, the recovery in the most recent session was quickly halted by selling pressure as the VN-Index fluctuated in the 1,788-1,814 point range before closing slightly lower. Market breadth continued to lean towards the negative as most sectors declined. BSC believes that the tug-of-war around the 1,800-point mark shows no sign of ending, and investors need to maintain caution.

From a more cautious perspective, Aseansc assesses that the short-term downtrend remains dominant as the VN-Index is below key moving averages, and momentum indicators have not yet shown clear signs of improvement.

According to ASEANSc, the 1,800-1,810 point range will continue to be a crucial testing zone in the coming sessions. Short-term investors should prioritize risk control, reduce their holdings during technical rallies, and avoid using high leverage. Disbursement should only be considered when there are signs of a bottoming out accompanied by a clear improvement in liquidity.

TPS believes that the selling pressure at the end of last week’s session reflects the cautious sentiment of investors as market demand is still not strong enough to create momentum for a recovery. According to TPS, the VN-Index is likely to continue fluctuating in the 1,750-1,850 point range, with the 1,820-1,850 point zone acting as notable resistance.

TPS expects the market to gradually stabilize as it approaches the support zone around 1,750 points but believes a strong upward surge remains limited if liquidity does not improve.

VPBankS believed that the VN-Index would test 1,750 points, especially since MA200 is also hovering around this area. Given the lack of clear improvement in the short-term trend, VPBankS believes that limiting transactions remains the most appropriate strategy.