Vietnam Daily Market Recap May 28

VN-Index drops 0.6% amid pressure on large caps 

The VN-Index faced widespread selling pressure on Thursday, shedding 10.8 points (-0.6%) to close at 1,863.7. Market breadth skewed heavily negative with 85 advancers (four at ceiling price) against 216 decliners (one at floor price) and 62 unchanged. In stark contrast to HoSE, the HNX-Index maintained its divergence, gaining 1.2% to finish at 285.6.

The VN30-Index fell 22.6 points (-1.1%) to 1,999.8, with only five advancers vs 22 decliners, as the market struggled to identify a firm support zone. Only four of 19 sectors recorded gains. Real Estate emerged as a bright spot, rising 1.4%, propelled by VHM hitting its ceiling price (+7.0%). Construction & Materials and Oil & Gas posted modest gains of 0.7% and 0.5%, respectively. On the downside, Technology bore the brunt of the pressure, falling 2.8%, followed by Telecommunications (-2.4%), Banking (-2.0%), Retail (-1.7%), and Financial Services (-1.5%).

HoSE liquidity contracted 6.8% DoD to VND16.6tn (USD638.5mn), remaining below the 20-day average. Foreign investors recorded a net outflow of VND586.6bn (USD22.6mn). HDB led the selling at VND119.3bn (USD4.6mn), followed by FPT (VND72.4bn/USD2.8mn) and SHB (VND66.9bn/USD2.6mn). For the buying, ACB was the primary focus with a net inflow of VND108.8bn (USD4.2mn), followed by VNM (VND68.4bn/USD2.6mn) and MWG (VND50.6bn/USD1.9mn). Notably, despite its near-ceiling surge, VHM saw a net foreign outflow of VND34.2bn (USD1.3mn), indicating that domestic capital was the main driver behind the stock’s breakout.

Read the full report: HERE