VN-Index Rises on Weak Turnover, Foreigns Sell

That matters because a market moving higher on fading liquidity is more vulnerable to reversal. It suggests investors are still cautious, with money concentrating in a handful of heavyweight names rather than committing across sectors.

VIC was the biggest lift to the index, at one point contributing nearly 8 points, while HPG rose almost 4% and added more than 1 point. The rebound also drew support from VN30 names and some oil-and-gas stocks late in the session.

Real estate was the standout sector, with the industry index up 2.21% on about 2,047.5 billion dong of trading. VHM, VRE, HQC and TCH gained, although DIG, CEO and KDH fell, highlighting the continued split between speculative and defensive positioning in the group.

Industrial shares also firmed, led by VSC, PVT, GEX and VTO, while basic materials added 0.62%. Financials rose only 0.21% and remained mixed, with TCB, VPB, MBB and VIX higher but SHB, SSI, SHS and HDB weaker.

Foreign investors stayed net sellers for a further 279 billion dong across the market, a drag that continues to limit the durability of rebounds. They sold TCB, VHM, PNJ and VNM, while buying HPG, DGW, GMD, GEX and SSI.

For investors, the key question is whether the index can build on blue-chip strength without a pickup in participation. If liquidity remains subdued and foreign outflows persist, gains may stay dependent on a narrow group of large caps rather than a broader risk-on rotation.