Stocks hit 4-month low, investors surprised

The stock market marked its fourth consecutive week of decline, breaking the psychological mark of 1,600 points and falling to its lowest level in the past four months. Currently, the VN-Index stopped at 1,599 points, down 2.47% compared to the end of last week. In particular, the strong selling pressure at the end of the week alone caused the index to lose 43 points, closing below the strong support of 1,600 points.

Market liquidity last week was low, with one session's trading value on HOSE being less than VND18,000 billion, reflecting the cautiousness of cash flow.

A series of stock groups not only sank into red, falling continuously for many days, but also broke through support levels over the past several months.

Across forums, many investors are worried when their portfolios are red, their accounts are heavily negative, and even losses can reach 30-40% if using margin (borrowed capital).

"Have you turned off the app yet, everyone? I'm officially turning it off now" - Mr. Manh Hao (an investor in Ho Chi Minh City), with 5 years of experience in the stock market, still could not hide his disappointment when seeing the VN-Index continuously fall below 1,700 points, then 1,600 points.

His account lost about 20% of his total portfolio, with some stocks falling as much as 25%.

According to the reporter of Nguoi Lao Dong Newspaper, when the market fell deep to the 1,650 point area, many brokers of some securities companies continued to recommend investors to buy stocks in the securities and real estate sectors.

Chứng khoán giảm mạnh về thấp nhất 4 tháng , nhà đầu tư lo lắng về bờ - Ảnh 2. — Stocks next week are expected to be positive again.

Mr. Dinh Viet Bach, Analyst, Pinetree Securities Company, commented that in the short term, pressure will likely still come from pillar stocks such as banking groups, Vingroup and some codes in the VN30 basket.

However, Mid-cap stocks are showing more positive signs, even with the potential to create a short-term bottom.

"It is likely that next week, the market will have another strong shake to shake off weak stocks, thereby activating the cash flow waiting outside. The necessary condition is that demand returns, then the market may experience a technical recovery" - Mr. Bach expects.

On the contrary, if cash flow remains cautious, selling pressure may spread to strong stock groups, causing the index to fall further to the 1,500 - 1,520 point range.

According to SHS Securities Company, a positive news this month is that in October 2025, the whole market had about 311,000 new investor accounts opened. In the 10 months, there were nearly 2.1 million new investor accounts entering the market. Despite the price adjustment, the medium-term demand base from new investors continues to accumulate, which will be a buffer for the recovery period when liquidity improves and investor sentiment becomes less cautious. If the VN-Index consolidates firmly around the 1,600-point mark with increased liquidity, investors can consider gradually increasing the proportion of good foundation groups that will benefit in the fourth quarter of 2025 and early 2026.

Looking at the long term, especially the prospect of foreign capital, Mr. Tuan Nhan, Deputy General Director of Vietcap Securities Company, said that foreign funds and investors could bring about 1.5 billion USD in investment capital into Vietnam next year, in the context that FTSE Russell has just announced upgrading Vietnam to a secondary emerging market.

It is expected that new capital flows will help balance the net selling of foreign investors over the past year, especially the growing interest from new investors in Singapore and Hong Kong (China).