Stocks fell for two consecutive sessions.

Vingroup 's shares are entering a correction phase after a period of rapid growth that weakened the VN-Index. Photo: Phuong Lam .

The Vietnamese stock market continued its negative trading session on May 27th as selling pressure returned across the board, particularly in large-cap stocks. Although capital remained in the banking sector, strong selling pressure on Vingroup-related stocks, construction and public investment, energy, and retail stocks prevented the VN-Index from sustaining its recovery and caused it to weaken towards the end of the session.

Notably, market liquidity improved significantly compared to the previous session. The total trading value across all three exchanges today reached approximately 25,500 billion VND, a 22% increase compared to yesterday. However, considering the market is fluctuating around its historical peak, this level of liquidity is only average and does not yet indicate a real surge in capital to create momentum for a breakthrough.

At the close of trading, the VN-Index fell 9.75 points (-0.5%) to 1,874.43 points, marking its second consecutive day of decline. Meanwhile, the HNX-Index rose 4.08 points (+1.5%) to 282.23 points, while the UPCOM-Index remained almost unchanged, edging up slightly by 0.05 points (+0.1%) to 126.1 points.

Today's market continued to show strong divergence, with 339 stocks rising (including 14 that hit the ceiling price), 854 stocks remaining unchanged, and 362 stocks falling (including 13 that hit the floor price).

The VN30 basket of stocks leaned heavily towards selling, with 19 declining stocks and only 11 rising stocks. Consequently, the VN30-Index closed down more than 5 points at 2,022 points.

VN-Index fell for the second consecutive session. Photo: TradingView.

The biggest downward pressure today continued to come from the Vingroup ecosystem of stocks, with many stocks experiencing sharp declines and significantly impacting the overall index. Specifically, VHM fell 4.2%, VIC fell 1%, VPL fell 4.2%, and VRE lost as much as 4.4%. With their large market capitalization, this group of stocks alone significantly influenced the VN-Index's performance today, deducting nearly 10 points.

Besides the "Vingroup" group, the market also faced pressure from many other blue-chip stocks such as STB (-2%), GAS (-1.2%), BID (-0.7%), VCB (-0.3%),FPT (-1.2%), and GVR (-1%). The construction - public investment and energy sectors also recorded negative trading activity as profit-taking pressure increased after the previous recovery.

Conversely, the banking sector played a supportive role in the market. Many stocks recorded significant gains, such as TCB (+2.3%), VPB (+1.6%),ACB (+1.6%), VIB (+2.8%), SSB (+2.6%), TPB (+2.9%), and OCB (+5.7%). Other stocks like GEE (+3.9%), MWG (+1.9%), and POW (+2.9%) also contributed to preventing the VN-Index from falling too sharply.

However, the efforts of the banking sector stocks were not enough to offset the downward pressure from large-cap stocks.

Foreign investors were also a factor putting pressure on market sentiment today, maintaining a strong net selling position with a scale of nearly 800 billion VND . The focus of net selling was on VHM with a value of approximately 220 billion VND , HPG with approximately 140 billion VND , and VIC with approximately 101 billion VND .

Conversely, foreign capital showed signs of returning to some banking and retail stocks. MSB, in particular, saw net buying of over 100 billion VND after a series of large-scale block trades. In addition, MWG and ACB also received approximately 56 billion VND each.