FPT University, Cần Thơ campus. FPT shares led the gainers on a bearish market day. — Photo courtesy of FPT University

HÀ NỘI — Việt Nam’s stock market slowed its recovery momentum on Wednesday as liquidity fell to a three-week low, despite foreign investors continuing their net buying trend.

On the Hồ Chí Minh Stock Exchange (HoSE), the VN-Index closed almost flat at 1,241.97 points, down marginally by 0.16 points or 0.01 per cent.

Market breadth was negative, with 177 stocks declining, 105 advancing and 75 remaining unchanged. Liquidity dropped sharply to VNĐ11.3 trillion (approximately US$445 million), down 14.4 per cent from the previous session, marking the lowest level in three weeks.

The VN30-Index, tracking the 30 largest stocks by market capitalisation on HoSE, edged up slightly by 1.84 points or 0.14 per cent, to 1,301.06 points. Among VN30 stocks, 14 fell, nine advanced and seven remained unchanged.

The overall market decline was primarily driven by losses in the 'Vin Group' stocks. Vinhomes JSC (VHM) fell by 1.18 per cent, erasing nearly 0.5 points from the VN-Index.

Similarly, Vingroup Joint Stock Company (VIC) declined by 0.73 per cent, while the Vietnam Joint Stock Commercial Bank For Industry And Trade (CTG) slipped by 0.42 per cent and the PetroVietnam Gas Joint Stock Corporation (GAS) dropped 0.43 per cent.

Meanwhile, gains in select large-cap stocks helped offset the market downturn. FPT Corporation (FPT) led the gains, rising by 2.74 per cent and contributing nearly 1.4 points to the VN-Index.

Analysts from Việt Dragon Securities said: “The market faced resistance at the 1,245-point level, cooling down as liquidity decreased compared to the previous session. This indicates limited supply pressure but also highlights cautious sentiment as the market approaches resistance levels. Current cooling signals may lead to pressure in the upcoming trading session.

“However, the market is expected to find support at the 1,245-point level and potentially rebound, bolstered by the prior session’s breakthrough above the 200-day moving average (MA200). The interaction of supply and demand in the 1,235–1,245-point range will influence the market’s next move. Continuous support could drive the VN-Index towards the 1,250-point level.

“Investors should observe the efforts of cash flow in the coming sessions. At this stage, exploratory buying in stocks showing good cash flow signals from support bases may be considered, while short-term profit-taking in stocks that have risen quickly to resistance zones should also be evaluated.”

On the Hà Nội Stock Exchange (HNX), the HNX-Index slipped slightly by 0.27 per cent to close at 223.09 points. The northern bourse recorded a trading volume of over 33.6 million shares, valued at VNĐ571 billion.

Foreign investors maintained their net buying momentum, with net purchases exceeding VNĐ354.6 billion on the HoSE. — VNS