VN-Index Falls Below 1,700 After VIC Selloff

VIC dropped 3.72% to 207,000 dong a share and alone shaved more than 13 points off the index. VHM lost 1.15%, while VCB, VPB and HPG also weighed on the market, underscoring how weakness in large-cap financial, property and industrial names can overpower strength elsewhere.

Market breadth was still positive on HoSE, with gainers outnumbering losers, but that did not prevent the index from turning lower. Real estate fell 2.51% overall, even as VPI, NVL and DXG posted gains, while FPT dropped 1.89% and continued to drag on technology shares.

Some sectors offered support. Energy rose 1.22%, helped by BSR and PVT, while securities stocks also traded firmer, with SSI, VIX and SHS all higher. Still, the bid was not strong enough to offset the selloff in index heavyweights.

Turnover on HoSE topped 13.354 trillion dong, showing money is still flowing through the market even as buyers hesitate at higher levels. Foreign investors added to the caution, selling a net 852 billion dong, led by VCB, VHM and ACB, while buying FRT and MBB.

For investors, the key question now is whether the VN-Index can hold support near 1,700 and whether money returns to the large-cap names that dominate the benchmark. Until that happens, rallies are likely to remain vulnerable to sudden reversals.