VN-Index retreats to its lowest level since the beginning of May 2026.

Widespread selling pressure in the VN30 group, especially on the duo VIC and VHM, caused the stock market to experience a sharp correction on May 22nd.

Customers conducting transactions at Bao Viet Securities, 8 Le Thai To Street, Hanoi . Photo courtesy of Tran Viet/TTXVN.

Although the VN-Index lost more than 30 points at one point during the session, bargain-hunting demand towards the end of the day helped the index significantly narrow its decline. In this context, VND shares became a rare bright spot, surging to the ceiling price with explosive trading volume.

Right from the start of the morning session, selling pressure intensified across the board, concentrated in large-cap stocks. Leading stocks like VIC and VHM both fell 2-3%, quickly dragging the VN-Index down by more than 20 points, retreating to the 1,875 point range in just over an hour of trading.

Small and medium-sized stocks also faced significant pressure. The Gelex trio (GEX, GEE, and GEL) fell by 1-3%, while Viettel group stocks like VTP and CTR declined simultaneously. However, the market still saw some bright spots in highly liquid stocks such as FPT, DXG, NVL, PC1, and especially VND.

At the mid-session break, the HOSE exchange recorded 79 gainers and 217 losers. The VN-Index fell 31.92 points, or 1.68%, to 1,864.97 points. Total trading volume reached over 341.7 million shares, equivalent to a value of 9,389.8 billion VND.

The Vingroup trio led the decline, with VRE falling 3.2% to 21,750 VND/share, VIC down 3.5% to 211,000 VND/share, and VHM dropping 4.9% to 152,000 VND/share. These three stocks alone accounted for nearly 20 points off the VN-Index.

In the VN30 group, downward pressure was widespread. Stocks such as VCB, TCB, SHB, GAS, BSR, and BID fell from 1.4% to over 2%. Conversely, the group of gainers was quite limited, including ACB, SSB, LPB, FPT, and SAB, but the increase was all below 1%.

In the afternoon session, selling pressure gradually eased as prices were pulled down to lower levels, helping the market recover partially. However, the recovery remained quite limited as the VN30 group continued to be in the red.

At the close of trading on May 22nd, the VN-Index fell 19.76 points, or 1.04%, to 1,877.13 points – its lowest level since May 5th. Market breadth improved significantly compared to the morning session, with 133 gainers and 177 losers on the HOSE. Trading volume reached 22,029 billion VND, almost unchanged from the previous session.

Less positive than the overall market, the VN30 group only had 6 gainers while 22 declined. Among the gainers, SSI stood out with a 1.66% increase. Other gainers included SSB (up 0.91%), VNM (up 0.85%), STB (up 0.56%), ACB (up 0.22%), and SAB (up 0.21%).

Conversely, 12 VN30 stocks fell by more than 1%, including VIC (down 1.01%), VIB (down 1.26%), BID (down 1.9%), FPT (down 1.96%), VCB (down 2.16%), PLX (down 2.33%), GVR (down 2.49%), GAS (down 2.75%), BSR (down 3.26%), VRE (down 3.35%), and VHM (down 3.75%). With their large market capitalization, VIC and VHM respectively subtracted 3.63 points and 5.28 points from the VN-Index.

Looking at the sector, oil and gas stocks had a lackluster trading session, with most stocks in the red. Besides PLX, BSR, and GAS, stocks like PVS fell 1.2%, PVC fell 2.5%, and PVD fell 3.7%. Conversely, OIL was a rare bright spot, rising 0.6%.

The real estate sector showed mixed performance. Several small-cap stocks hit their upper limit, such as OCH, TNT, VPH, and VRC, while CII rose 2.3%, OGC 1.9%, DXG 1.8%, NVL 1.3%, and NLG 1%. Conversely, many stocks fell sharply, including PDR down 1.6%, SJS down 1.8%, HDG down 1.5%, QCG down 3.7%, alongside VIC and VHM.

Contrary to the general market trend, the securities sector had a relatively positive trading session. Except for HCM, which fell 1.4%, and VIX, which fell 2.9%, most stocks in the sector closed above their reference prices. SHS rose 3.5%, FTS rose 3.4%, CTS rose 3.1%, DSE rose 2.7%, and MBS rose 2.1%.

Most notably, VND shares of VNDirect Securities surged to the maximum allowed limit of 17,450 VND per share, accompanied by a trading volume of 45.5 million shares on the exchange.

Regarding business operations, at the annual general meeting on May 18th, VNDirect shareholders approved a large-scale issuance plan, including a private placement of up to 106.6 million shares, an offering of 325.8 million shares to existing shareholders, and the issuance of 30 million ESOP shares. These plans are expected to be implemented during the 2026-2028 period after approval from regulatory authorities.

Regarding foreign investor transactions, foreign investors sold a net of nearly 150 million units, equivalent to VND 3,240 billion, on May 22nd. MSB was the most heavily sold stock with a value of VND 1,475 billion, followed by VIC with VND 247 billion, HPG with VND 234 billion, and VHM with VND 233 billion. Conversely, FPT and ACB were the two stocks with the most notable net buying, with values ​​of VND 74 billion and VND 61 billion respectively.

The decline on May 22nd showed that correction pressure still exists, especially in large-cap stocks and the VN30 index, as the capital flow is not strong enough to create consensus across the market.

Although bargain-hunting buying helped the VN-Index significantly narrow its decline towards the end of the session, the fact that the index fell to its lowest level since the beginning of May, coupled with strong net selling by foreign investors, continues to reflect the cautious sentiment of investors.

However, divergence still appeared in some sectors, most notably the securities sector, with VND hitting the ceiling price, indicating that short-term capital is still seeking opportunities in stocks with unique stories and high liquidity.

Source: https://baotintuc.vn/kinh-te/vnindex-lui-ve-muc-thap-nhat-tu-dau-thang-52026-20260522162006572.htm