VN-Index may continue to move sideways

The VN-Index opened higher on Wednesday and traded in positive territory throughout the morning session but quickly lost those gains in the afternoon session, closing unchanged at 1,366.7. Market liquidity plunged, with total trading value declining 15.6% DoD to VND21.6tn (USD831.1mn).

The HNX Index followed a similar pattern, closing down 0.1% to close at 227.7. Sector performance was mixed, with Chemicals (1.9%), Media (0.9%) and Food & Beverage (0.6%) leading gainers. In contrast, sectors such as Oil & Gas (-1.5%), Insurance (-1.2%) and Travel & Leisure (-0.9%) declined.

Top performers today included GVR (3.9%), VHM (0.8%) and MSN (1.6%). Top laggards included GAS (-2.3%), MBB (-1.2%) and TCB (-0.6%). HAG (1.6%) increased today, amid news that several company insiders were registering to buy a large number of shares, signalling positive sentiment to the market.

Specifically, Mr. Doan Nguyen Duc, Chairman of the Board, registered to buy 130 million shares, and Mr. Nguyen Titan, a board member, registered to purchase 2 million HAG shares. The transactions are expected to be carried out between November 13 and December 12.

Foreign investors net bought today with VND177bn (USD6.8mn). Buying momentum focused on HPG (VND219bn, USD8.4mn), VHM (VND114bn, USD4.4mn) and VND (VND90.7bn, USD3.5mn). On the other hand, they mainly sold SHB (VND63.4bn, USD2.4mn), GEX (VND56.2bn, USD2.2mn) and EIB (VND48.3bn, USD1.9mn).

On June 24, 2025, SBV Governor Nguyen Thi Hong met with the IMF’s Article IV Mission to discuss Vietnam’s macro outlook, monetary policy stance, and key reforms amid rising global uncertainty. IMF Mission Chief Paulo Medas highlighted escalating trade tensions and financial market volatility as major risks to global—and Vietnamese—economic stability.

Despite these headwinds, the IMF commended Vietnam’s strong 1H25 performance, noting solid growth and contained inflation. They also praised the Government’s reform drive—particularly efforts to boost private sector investment, accelerate public spending, and streamline governance—as vital for enhancing productivity and sustaining growth.

Looking ahead, the IMF urged continued macro stability and deeper structural reforms, emphasizing financial sector resilience, and a more investor-friendly business climate as core priorities.

VN-Index continued to fluctuate when testing the resistance near 1,370 points. Trading volume also narrowed back below the 20-session average, consistent with the market's tug-of-war state. VN-Index is still anchored around the highest point of 2025.

From a technical perspective, Aseansc believes that after breaking through a resistance, VN-Index will usually pull back (it shortly corrects to test the previous resistance) before continuing the main trend. Therefore, VN-Index may continue to go sideways with the support at 1,350-1,360 points, before heading towards the next target around 1,370-1,380 points.

In the context of market fluctuations, Aseansc said that new investment opportunities would appear for short-term traders with large cash ratios. The priority target for observation is stocks that are going sideways with low volume in a short-term uptrend.

Aseansc advises investors to focus on stocks with supportive stories and in sectors less affected by tariff variables, including banking, securities, real estate, retail, and public investment.