Customers conduct transactions at Bảo Việt Securities Company. — VNA/VNS Photo

HÀ NỘI — Việt Nam’s stock market started the new week on a negative note, with the VN-Index pulling back towards the key psychological level of 1,200 points. Liquidity declined slightly compared to the previous session, while foreign investors returned as modest net buyers.

At the close on the Hồ Chí Minh Stock Exchange (HoSE), the VN-Index dropped by 12.05 points, or 0.99 per cent, to settle at 1,207.07 points. Market breadth was broadly negative, with 214 decliners overwhelming 104 gainers.

Total trading value fell by 13.48 per cent from the previous session to approximately VNĐ18.6 trillion (US$718.3 million).

The VN30-Index, which tracks the 30 largest stocks by market capitalisation, also declined by 11.95 points, or 0.91 per cent, to 1,294.29 points. Within the VN30 basket, nine stocks gained, 19 fell and two remained unchanged.

Leading the market downturn was Vingroup (VIC), which hit the floor price with a 6.96 per cent drop, slashing nearly four points from the VN-Index. Other notable laggards included BIDV (BID), down 1.95 per cent, Hòa Phát Group (HPG), down 1.96 per cent and Vietnam Rubber Group (GVR), down 3.27 per cent.

However, several blue-chip stocks provided some relief. Sacombank (STB) surged 4.93 per cent, contributing nearly one point to the VN-Index, while SHB rose 2.72 per cent, adding approximately 0.4 points to the benchmark.

Analysts at Saigon – Hanoi Securities (SHS) said: “In the short term, the VN-Index remains in a downtrend below the resistance zone of 1,250–1,270 points. The market is attempting a recovery and forming a consolidation range around the 1,200-point level – a significant psychological support, which also corresponds to the five-year average price, the peak of 2018, and the low of November 2024.”

They added: “The market is gradually stabilising after a period of strong selling pressure. Recently released and upcoming Q1 earnings results are helping to support investor sentiment. Additionally, optimism around potential developments in US–China trade negotiations is offering further support.

“In the short term, with more than 1,600 stocks across the exchanges, the overall market’s price-to-earnings (P/E) ratio is around 12.4, and the price-to-book (P/B) ratio stands at 1.55. Many stocks, especially those that were heavily sold off, are now trading at relatively low valuations. We believe many remain attractive in relation to their fundamentals and long-term growth prospects.”

They advised investors to maintain balanced allocations and focus on fundamentally sound, industry-leading stocks in sectors with strong economic growth potential.

On the Hà Nội Stock Exchange (HNX), the HNX-Index also declined, losing 1.63 points, or 0.76 per cent, to close at 211.47 points.

Foreign investors began the week as net buyers on both main exchanges, with a net buying value of over VNĐ172 billion on the HoSE and more than VNĐ17 billion on the HNX. — VNS