Bank stocks surge thanks to policy boost.
Cash flow continued to pour into banking stocks in Monday morning's trading session, helping many stocks rise positively following new policy information from the State Bank of Vietnam. However, pressure from VIC and VHM still caused the VN-Index to decline.
At the opening of the trading session this week, selling pressure from two large-cap stocks, VIC and VHM, caused the VN-Index to reverse and fall.
After more than an hour of trading, the HOSE exchange remained relatively balanced, with the number of rising and falling stocks being almost equal. Despite this, the VN-Index still lost approximately 10 points.
The banking sector stocks continued to be a bright spot in the market, maintaining strong appeal to investors. Most stocks traded positively, with only SHB remaining at its reference price and OCB experiencing a slight decline of less than 1%.
Notably, VIB and LPB led the gains in the banking sector with increases of over 3%, while most other stocks rose around 1%.
The impetus for supporting the banking sector comes from the State Bank of Vietnam's official approval of the draft Circular 25/2026/TT-NHNN. A notable point of the circular is the increase in the maximum ratio of short-term capital used for medium and long-term lending from 30% to 40%, effective from July 1, 2026.
The banking sector saw widespread gains, with VIB (+2.48%), TCB (+0.75%), ACB (+0.88%), VPB (+0.93%), and MBB (+1.01%).
Meanwhile, the financial services sector saw mixed results, with VIX (-0.3%), SSI (+0.57%), VND (-0.85%), SHS (+1.1%), VCI (+0.83%), TCX (-2.11%), VPX (-1.93%), and TVC (-1.89%). Similarly, in the oil and gas sector, BSR (-0.21%), PVD (+2.22%), PVS (+1.07%), and PLX (+0.27%) were mixed.
The real estate sector was in the red, with VHM (-3.78%), VIC (-2.98%), VRE (-2.5%), NVL (-2.5%), VPI (-0.16%), and VC3 (-0.38%).
At the close of the morning trading session on June 29th, the VN-Index fell 15.17 points to 1,856.74 points (-0.81%) compared to the previous session. Meanwhile, the UPCo M-Index increased by 129.08 points (+0.12%), equivalent to 0.16 points, and the HNX-Index increased by 319.7 points (+0.59%), equivalent to 1.87 points.
Market liquidity reached VND 7,510.13 billion, with 259,000 shares traded. Across the sector, 146 stocks increased, 143 decreased, and 60 fell to their reference price.
According to experts at Kien Thiet Vietnam Securities Company, looking at the weekly timeframe, there was a point when the VN-Index almost touched the 1,900-point mark before cautious sentiment became a burden, bringing the index back to equilibrium and forming candlestick wicks to prevent the market from falling into an unsustainable upward surge.
The downside is that despite the significant improvement in scores, the weekly trading volume was more than 31% lower than the 20-week average.
Given these developments, investors should continue to observe the market and refrain from making new purchases as the VN-Index lacks the necessary conditions for decisive investment at the present time.
According to experts at AIS Securities Company, the VN-Index recorded its second consecutive week of recovery, rising 47.38 points (+2.06%). Despite the upward trend, market breadth in each session reflected a strong tug-of-war and divergence.
The main support came from the Vingroup group of stocks, along with the assistance of a few stocks in the Banking and Securities sectors.
This week, the VN-Index is expected to maintain its short-term recovery momentum, with the nearest target at 1,900 points and the further target at 1,930 points. However, intraday fluctuations are still unavoidable.
Investors should take advantage of rallies to restructure their portfolios, prioritizing holdings of banking and securities stocks that are attracting capital inflows. At the same time, they should sell off stocks with negative price performance.
