Vietnam's stock market had its best session in about six months on October 21. The benchmark VN-Index, which tracks shares on the Ho Chi Minh City Stock Exchange (HOSE), closed at 1,738.7 points, up 46.7 points or 2.76%, according to Vietnam+. Foreign investors also turned net buyers after 20 straight sessions of net selling, which VnExpress called the most encouraging signal of the day.
Vietnam+ said it was the index's biggest one-day gain since April 8, when it jumped 79 points. VnExpress reported that most analysts had expected only a modest technical rebound towards 1,700 points, roughly 10 points higher, because the relative strength index (RSI) had sunk deep into oversold territory. Instead, the index opened above the reference level and kept extending its gains.
The session in numbers
The table below was compiled by KBVN+ from figures published by Vietnam+ and VnExpress.
| Item | Figure | Source |
|---|---|---|
| VN-Index close | 1,738.7 points, up 46.7 (2.76%) | Vietnam+ |
| HOSE volume | nearly 948 million shares | Vietnam+ |
| HOSE turnover | nearly VND 20,291 billion | Vietnam+ |
| HCMC exchange liquidity | VND 20,300 billion, a two-week high | VnExpress |
| Contribution of four Vingroup stocks | nearly 34 points | Vietnam+ |
| Contribution of VIC alone | 23.7 points | VnExpress |
| Foreign investors, whole market | net bought about VND 160 billion, over 8 million shares | Vietnam+ |
| Foreign investors, HOSE | net bought about VND 190 billion, 10.5 million shares | Vietnam+ |
| Foreign investors, HNX | net sold over VND 31 billion | Vietnam+ |
The two outlets give different market-breadth figures: VnExpress counted 230 gainers on the HCMC exchange, 16 of them at the daily limit, while Vietnam+ reported 246 gainers, 78 losers and 54 unchanged. Both show buyers firmly in control. Most sectors closed higher except oil and gas, materials and insurance, Vietnam+ said.
Property leads, foreign money goes to banks
Real estate drove the rally. Vingroup's VIC, VHM and VRE all closed limit-up and VPL gained 3.7%. Vietnam+ said developers DXS, NLG and HDC also hit the ceiling and Gelex-linked GEE and VSC did the same, while VnExpress noted that every brokerage stock rose. VHM was the most traded stock at nearly VND 840 billion.
VnExpress said foreign investors bought more than VND 2,500 billion and sold about VND 2,300 billion, focusing on leading banks such as TCB, MBB and SHB. Vietnam+ reported that TCB topped foreign net buying for a second straight session with VND 290 billion, followed by MSN (nearly VND 145 billion) and VIC (over VND 89 billion). Over the last four sessions TCB drew VND 687 billion in foreign net buying, reversing a selling trend since mid-September.
Analysts at Yuanta Securities Vietnam said the rebound came as selling pressure ran out, and analysts also cited deposit-rate cuts directed by the State Bank of Vietnam, which make equities more attractive than savings. Those are analysts' views. KBVN+ previously reported the index's 16-point drop on October 19.
What comes next
ACB Securities analysts said a lasting reversal needs a clear improvement in liquidity over the coming sessions. Yuanta expects the recovery to continue at a modest pace and advised investors not to rush into bottom-fishing while large caps still weigh on the index. Trading resumes on October 22. This is market news, not investment advice. More market coverage is in our Business section.