VN-Index Falls Below Support as Liquidity Drops

Breadth was firmly negative across the board. HoSE ended with 180 decliners against 91 gainers, and 90 stocks fell more than 1%, with 72% of those weak names closing at the day’s low or with sell orders stacked just below the last price. That kind of tape usually points to fading confidence rather than aggressive distribution.

Blue chips offered little protection. VIC slipped 0.86% and VHM lost 1.4%, with VHM falling for a second straight session as it tested a medium-term support zone around VND63,000, a level that had previously held the stock in June and July. Other heavyweights also weakened, including GVR, VPL, STB and LPB, while only a handful of larger names such as MBB and VIB posted notable gains.

Foreign investors remained net sellers, but the outflow stayed contained at just under VND1 trillion on HoSE, with net sales led by VIC, VPB, FPT and TCB. MBB was the standout net buyer at VND55.5 billion, reinforcing the view that this was more a selective rotation than a full-scale exit.

For investors, the key issue is whether the market can rebuild liquidity after losing a short-term base. If afternoon trading does not bring stronger participation, the break in the VN-Index and the thin rebound from intraday lows suggest downside momentum could persist into the next session.