Vietnam Daily Market Recap Jan 29 – IDC, PVS & ACB Earnings

Stocks advance, led by retailers

The VN-Index opened higher on Thursday and traded around its reference price throughout the session, but surged at the end of the session to close up 0.7% at 1,815. Market liquidity plunged, with total trading value declining 26.2% DoD to VND25.6tn (USD986mn). On the other hand, the HNX Index opened higher, dipped into negative territory throughout the session, and recovered at the end of the session to close up 0.1% at 252.7.

Most sectors advanced today, with Retail (+4.5%), Chemicals (+4.3%) and Basic Resources (+3.7%) gaining, while Oil & Gas (-0.9%), Travel & Leisure (-0.8%) and Utilities (-0.6%) declined.

Retail tickers led the market today, including MWG (+4.7%), PNJ (+6.8%), MSN (+5.8%), VNM (+5.0%) and DGW (+6.9%), as the sector enters a new growth cycle in 2026, shifting focus from aggressive physical expansion to optimizing revenue and customer experience. Sentiment was bolstered by reports that domestic giants like MWG and MSN achieved profits exceeding expectations in 2025, validating the strategic pivot toward AI integration, omnichannel sales, and adapting to the consumption habits of the expanding middle class.

Top performers today included VHM (+2.6%), GVR (+6.9%) and VNM (+5.0%), while top laggards included VJC (-4.4%), HDB (-2.3%) and GAS (-3.5%).

Foreign investors net sold today, with a total value of VND455bn (USD17.5mn), with selling momentum focused on VIC (VND364bn, USD14.0mn), ACB (VND216bn, USD8.3mn) and VCB (VND193bn, USD7.4mn), while foreign investors mainly bought MSN (VND351bn, USD13.5mn), FPT (VND271bn, USD10.4mn), and PNJ (VND201bn, USD7.7mn).

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