A Techcombank transaction office in Tây Ninh Province. The bank's TCB shares led the market on Wednesday. — VNA/VNS Photo

HÀ NỘI — Việt Nam’s stock market saw a mild recovery on Wednesday as the VN-Index edged back above the psychological threshold of 1,200 points. Weaker selling pressure compared to the previous session contributed to a significant drop in liquidity, while foreign investors registered a small net sell on both major exchanges.

The rebound was underpinned by solid performances from blue-chip stocks, helping stabilise market sentiment and enabling investors to reallocate funds with greater confidence. Mid and small-cap stocks outperformed thanks to low liquidity and reduced selling pressure, with many counters recording strong gains. 

After Tuesday’s turbulent session, which ended on a positive note, improved sentiment carried over into the new day. This was further supported by a rally in global markets and softer rhetoric surrounding tariff and trade tensions. Nonetheless, investors remained cautious, awaiting concrete developments beyond mere statements.

The morning session opened with a sharp rally, with the VN-Index surging by 18.5 points — the session’s peak — equivalent to an increase of nearly 1.55 per cent. However, the momentum gradually cooled, and although several stocks retreated, the market still closed firmly in positive territory. 

At the close, the VN-Index gained 13.87 points, or 1.16 per cent, to reach 1,211 points. Market breadth was broadly positive, with 281 gainers far outnumbering 54 decliners.

Total market liquidity dropped sharply by 44.57 per cent from the previous day, with VNĐ18.9 trillion (approximately US$727.6 million) in value traded and over 855 million shares exchanged across the board.

The VN30-Index, tracking the top 30 large-cap stocks by market capitalisation, advanced 12.66 points, or 0.98 per cent, to 1,303.04 points. Within the basket, 23 stocks posted gains, five declined, and two were unchanged.

Leading the market’s uptrend was Techcombank (TCB), whose shares rose 3.78 per cent, contributing more than 1.6 points to the VN-Index. Other notable gainers included Vinhomes (VHM), up 1.74 per cent, Vietnam Rubber Group (GVR), up 3.81 per cent, Becamex (BCM), which surged 5.77 per cent and steelmaker Hòa Phát Group (HPG), which added two per cent.

On the downside, Vietcombank (VCB) was the largest drag on the index, slipping 0.85 per cent and erasing nearly one point from the VN-Index.

Analysts from SHS Securities said: “The short-term trend of the VN-Index remains downward beneath the resistance zone of 1,230 points. The index is currently striving to stabilise around 1,200 — a psychologically significant support level, aligning with the five-year average, the 2018 peak and the November 2024 low. A stronger support zone lies near 1,170 points, which corresponds to the recovery level after the temporary suspension of retaliatory US tariffs.

“In the short term, investor sentiment remains cautious and fearful, exacerbated by high levels of margin lending. Margin debt at the end of Q1 2025, recently disclosed by several securities firms, was a contributing factor to Tuesday’s intense selling pressure. However, the current session shows signs of improving inflows into stocks that had experienced sharp declines.” 

Experts advised investors to maintain balanced allocations and focus on companies with strong fundamentals, market leadership and superior growth prospects in Việt Nam’s key strategic sectors. — VNS