Experts from securities companies believe that the VN-Index is currently in a consolidation phase after a strong upward trend that lasted from April 2025.
*Investment opportunities may arise in stocks that have been accumulating for a long time.
According to Saigon - Hanoi Securities Joint Stock Company (SHS), the VN-Index fell for the second consecutive week, closing at 1,683.18 points (down 2.77%), dropping below the 1,700-point mark. The VN30 also decreased by 1.65% to 1,944.60 points, still maintaining above the psychological support level of 2,000 points.
During the week of October 20-24, the VN-Index recorded a sharp decline at the beginning of the week with a record drop in points, before recovering in the next two sessions around 1,620 points. Market movements clearly showed divergence among industry groups, while liquidity increased by 17.5% compared to the previous week, reflecting the flow of money into fundamentally sound stocks with positive business results. However, foreign investors continued their net selling streak for the 14th consecutive week with a value of VND 4,360 billion on the HOSE, concentrated in MSN (VND 1,027 billion), SSI (VND 730 billion), and CTG (VND 702 billion).
SHS believes the VN-Index is in a consolidation phase after a strong rally that lasted from April 2025. The index is retesting the 1,700-point level, with strong resistance at 1,730 points – the highest price during the sharp decline on October 20th. In the short term, selling pressure may increase on stocks that have risen sharply or are highly leveraged, while investment opportunities may arise in stocks that have been consolidating for a long time, whose prices have returned to the April-May 2025 range and have positive Q3 business results.
Vietnam Construction Securities Joint Stock Company (CSI) described the market as "suffocating" at the beginning of the week, with many stocks hitting their lower limit and almost no buyers. However, capital quickly returned, preventing the VN-Index from falling too deeply and allowing it to hold steady at around 1,620 points, gradually recovering towards the end of the week. On the technical chart, the index ended the week with a candlestick featuring a long lower "tail"—a sign of buying pressure at low prices, meaning investors took advantage of the opportunity to "buy the dip."
According to CSI, liquidity for the week decreased by 3.9% compared to the 20-week average, reaching VND 37,807 billion (equivalent to 1.204 billion shares traded on HOSE, down 8.06%). The decline covered 14 out of 21 industry groups; specifically, securities fell 12.2%, steel fell 6.25%, and banking fell 5.27%. Conversely, telecommunications technology increased 8.84%, retail increased 2.38%, and plastics increased 2.08% – the three strongest performing groups, notablyFPT , PNJ, and the Viettel group (VTP, CTR, VGI).
The fact that the VN-Index held firm above the 1,620-point support level indicates that bottom-buying sentiment is still present. CSI recommends that investors maintain a cautious strategy, reduce their stock holdings when the VN-Index recovers to the 1,720-point level, and wait for safe buying opportunities if the index corrects to 1,560 points.
Tien Phong Securities (TPS) also believes that the VN-Index has temporarily stalled after three recovery sessions. Selling pressure has returned as the index approaches the 20-day moving average, reflecting cautious sentiment. TPS predicts that if demand does not improve, the current recovery may end, but the 1,600 - 1,620 point range remains a reliable support level in case of a market correction.
Overall, after months of sustained gains, the market is entering a correction phase with clear differentiation. Caution has returned as the VN-Index fluctuates around 1,700 points, while smart money is beginning to selectively choose stocks with strong fundamentals, growing business results, and reasonable valuations.
In contrast to the red dominating the domestic market, global stock markets, especially in the US, recorded their strongest weekly gains in months.
US stock indices surged the most in months.
In the US, the S&P 500 and Nasdaq Composite indices recorded their largest weekly percentage gains since August 2025, while the Dow Jones index had its strongest increase since June 2025.
Lower-than-expected inflation figures and positive business results helped all three major US stock indexes close at record highs on October 24, reinforcing expectations that the Federal Reserve will soon cut interest rates.
Specifically, the Dow Jones index rose 472.51 points (1.01%) to 47,207.12 points; the S&P 500 increased 53.25 points (0.79%) to 6,791.69 points; and the Nasdaq Composite gained 263.07 points (1.15%) to 23,204.87 points.
The U.S. Department of Labor reported that the consumer price index (CPI) rose 0.3% in September, lower than the forecast of 0.4%. According to Callie Cox, market strategist at Ritholtz Wealth Management, “prices are still rising but at a controlled pace, helping to ease inflation concerns and bolster expectations of a Fed interest rate cut.”
According to LSEG, the Fed could cut interest rates two more times this year, starting with the meeting on October 28-29. The third-quarter 2025 earnings season is also off to a good start, with 87% of S&P 500 companies exceeding profit expectations, further supporting investor sentiment.
WTO Director-General Ngozi Okonjo-Iweala urged the US and China to de-escalate trade tensions, warning that decoupling the two major economies could reduce global output by 7% in the long term. She stated that the WTO is promoting dialogue to mitigate the negative impact on global growth.
Earlier, during the week of October 20-24, Wall Street experienced significant volatility driven by trade developments and earnings results. The indices rose across the board at the start of the week as conciliatory remarks from President Trump eased concerns about US-China tensions.
At the close of trading, the Dow Jones index rose 1.1% to 46,706.58 points; the S&P 500 rose 1.1% to 6,735.13 points and the Nasdaq Composite rose 1.4% to 22,990.54 points.
Source: https://baohaiphong.vn/thi-truong-chung-khoan-buoc-vao-giai-doan-tich-luy-sau-chuoi-tang-manh-524633.html
Comment (0)