VN-Index ends nine-week gains

The benchmark VN-Index has ended its winning run of nine consecutive weeks under heavy profit-taking selling pressures. The market is forecast to remain volatile due to ongoing portfolio restructuring of exchange-traded funds.

On the HCM Stock Exchange, the VN-Index decreased 0.3 percent for the week, closing Friday at 712.6 points, and narrowed its yearly gain to 7.2 percent.

Large-cap stocks have lost their growing momentum, as investors increased selling in these stocks and channeled money in speculative investments to seek larger returns.

Leading stocks in their industries, such as dairy firm Vinamilk (VNM), PV Gas (GAS), IT group FPT (FPT), Saigon Securities Inc (SSI) and Military Bank (MBB), all slumped last week.

Among gainers, shares of budget airline Vietjet (VJC) soared 46.8 percent in value since its debut on February 28, reaching 132,100 VND (5.79 USD) per share.

FLC Faros Construction (ROS) recorded the longest running streak, rising constantly since December 14, 2016. Its share price has climbed 51.5 percent in nearly three months to 152,700 VND.

FTSE, a London-based index provider, announced on March 3 it would add shares of FLC Faros and two other property stocks, including Hoa Binh Construction (HBC) and Dat Xanh Real Estate Service and Construction (DXG), into its FTSE Vietnam Index in the first quarterly review of 2017.

Meanwhile, the 250 million USD exchange-traded fund will remove five other Vietnamese stocks from the basket for the index calculation. The changes take effect on March 20.

Except for ROS, two other firms had negative performances last week. HBC shares decreased 4.5 percent in value, while DXG fell 1.1 percent last week.

“The market is expected to be volatile in the coming week, with a focus on ETF’s actions,” said Tran Duc Anh, a stock analyst at Bao Viet Securities Co.

Besides FTSE, VanEck Vectors Vietnam ETF is expected to announce its first quarterly review on March 10.

According to Anh, although selling pressure was generally quite strong, positive developments in other large-cap stocks, such as FLC Faros, Vietjet, Vietcombank (VCB) and brewery Sabeco (SAB), still provided good support for the marker, Anh said.

Among speculative stocks, realty stocks remained a magnet thanks to large profits last year, as well as a positive 2017 outlook.

Dat Xanh Real Estate Service and Construction Corporation gained 66.8 percent this year, while Haa Binh Corporation (HBC) gained 35.5 percent. Khang Dien House Trading and Investment JSC (KDH) and Novaland Investment (NVL) increased 13.6 percent and 16.5 percent, respectively, this year.

Liquidity decreased on the southern bourse last week, with daily trading volume averaging nearly 189 million shares, worth over 3.3 trillion VND (145.6 million USD) per session, down 14.5 percent in volume and 13.3 percent in value compared to the previous week’s figures.

“The market is segmented and the risk increases in hot rising stocks,” analysts at Vietnam Securities Co warned in a report, noting the VN-Index could retreat to 710 points, before bouncing back on bargain demands.

On the smaller exchange in Hanoi, the HNX-Index increased 0.4 percent for the week, ending March 3 at 86.65 points with an average 55.4 million shares, worth 527 billion VND (23.1 million USD) traded in each session.

Foreign investors concluded the week as net buyers on the two exchanges, for a combined net value of 257 billion VND. Their purchases focused on hot tickers, such as Vietjet, Hoa Phat Group, Vinamilk and FLC Faros.

VNA

Other News

Private economic sector poised for breakthrough growth

Private economic sector poised for breakthrough growth

More than a year after the Politburo's Resolution No. 68-NQ/TW on private sector development came into effect, expectations now extend beyond increasing the number of enterprises. The goal is to build a stronger business community with greater resilience, larger ambitions and the capacity to compete in global supply chains.

Vietnam remains ASEAN growth leader in 2026 despite global headwinds: WB

Vietnam remains ASEAN growth leader in 2026 despite global headwinds: WB

Vietnam is expected to remain one of ASEAN’s fastest-growing economies in 2026, supported by resilient exports, strong investment inflows and an ambitious reform agenda, despite mounting global uncertainties, according to the World Bank’s latest Vietnam Economic Update released on May 15.

Ministry establishes monitoring framework for carbon market

Ministry establishes monitoring framework for carbon market

Under a new circular, the exchange of greenhouse gas emission quotas and carbon credits is conducted on the domestic carbon credit exchange through the carbon trading system, which is interconnected with the national registration system.

Biofuel ready for nationwide rollout

Biofuel ready for nationwide rollout

For biofuels, particularly E10, to develop successfully, stronger and more coordinated policies are needed, especially pricing mechanisms capable of creating a sufficiently attractive gap between E10 and mineral-based petrol, an expert has said.

Vietnamese farm produce promoted at African investment, trade forum

Vietnamese farm produce promoted at African investment, trade forum

The 12th Africa Forum for Investment & Commerce (AFIC 12) opened in Algiers, the capital of Algeria, on May 9, drawing around 2,000 participants, including officials, economists, businesses, financial and development organizagtions from 43 African countries and international partners, including Vietnam.

Int'l medical, pharmaceutical expo opens in Hanoi

Int'l medical, pharmaceutical expo opens in Hanoi

The exhibition, which runs until May 9 at the Hanoi International Centre for Exhibition, showcases advanced products and technologies across a range of fields, including pharmaceuticals, drug manufacturing machinery and equipment, medical devices, hospital and clinic services and dental equipment.

Mega projects to transform Ho Chi Minh City urban landscape

Mega projects to transform Ho Chi Minh City urban landscape

Leading the charge in this massive building spree is the new central city square in the core of the Thu Thiem new urban area. Spanning more than 20 ha, it’s the crown jewel of the Central Square and new administrative center complex.

Vietnam establishes itself as one of region’s most dynamic manufacturing and supply bases

Vietnam establishes itself as one of region’s most dynamic manufacturing and supply bases

The country’s stable political and economic environment provides a critical foundation for long-term sourcing strategies. At the same time, Vietnam has demonstrated a strong ability to scale up manufacturing, supported by a continuously expanding industrial base capable of meeting both high-volume demand and increasingly complex technical and quality requirements.

Vietnamese pomelos gain broader access to Australian market

Vietnamese pomelos gain broader access to Australian market

The update by Australia’s Department of Agriculture, Fisheries and Forestry to its Biosecurity Import Conditions system (BICON) on April 10, officially setting out import conditions for Vietnamese pomelos, is regarded as a major milestone in market access efforts.

Vietnam's industry spearheads transition to circular economy

Vietnam's industry spearheads transition to circular economy

The circular economy is no longer just a policy choice. It has become an inevitable trend for delivering sustainable and green growth, sharpening competitiveness at home and abroad, and meeting Vietnam’s net-zero emissions target by 2050. It is now a prerequisite to sustain long-term economic expansion, particularly in industrial production and supporting industries.

Nearly 100 tonnes of Vietnamese fruits, vegetables airlifted to UAE

Nearly 100 tonnes of Vietnamese fruits, vegetables airlifted to UAE

Vietnamese fresh produce and processed foods are increasingly recognised for their quality, with items such as cashew nuts, coffee and spices gaining popularity among Middle East consumers. In 2025, Vietnam’s farm produce exports to the UAE exceeded 445 million USD, up nearly 24% year-on-year.