Vietnam Daily Market Recap March 12

Market extends correction, VN-Index retreats to 1,710-point zone

The March 12 session saw continued selling pressure on large-cap stocks, dragging the VN-Index lower while select commodity-linked sectors staged a modest rebound. The VN-Index closed at 1,709.61, shedding 18.73 points (-1.1%). Market breadth tilted negative with 138 advancers against 205 decliners.

The VN30 closed at 1,859.80, down 30.14 points (-1.6%) — underperforming the broader index and confirming concentrated selling in the large-cap segment. Within the VN30 basket, only six stocks advanced while 23 declined. The HNX-Index bucked the trend, edging up 0.83 points (+0.3%) to 247.85, hinting at selective capital rotation into small-cap names.

Sector performance diverged sharply. Telecommunications (-4.4%) remained under the heaviest pressure, followed by Travel & Entertainment (-3.0%), Technology (-2.7%), Financial Services (-2.6%) and Insurance (-2.0%). The two largest-cap pillars — Banking (-1.6%) and Real Estate (-0.3%) — both declined, though Real Estate narrowed its losses markedly vs prior sessions. On the upside, Chemicals (+1.9%) led gainers on the oil-price tailwind, followed by Oil & Gas (+1.0%), Construction & Materials (+0.9%) and Basic Resources (+0.1%).

Matched-order turnover on the HoSE reached VND24.5tn (USD940mn), up 6.2% vs the prior session but remaining below the trailing 20-session average. Subdued turnover during a down session suggests selling momentum is gradually fading, though buying demand is not yet strong enough to sustain a durable recovery. Foreign investors returned to net selling at VND302bn (USD12mn) on the HoSE. Top net buys were MWG (VND246bn), VNM (VND99bn) and VCI (VND65bn); top net sells were FPT (VND126bn), VHM (VND97bn) and PVS (VND93bn).

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