Vietnam VN-Index falls over 100 points as sell pressure intensifies

The VN-Index slid more than 100 points in a week, breaking the 1,700‑point barrier and closing at 1,686.1, a 5.6% decline and the fourth consecutive weekly drop. Heavy selling spread across most sectors – banking, securities, real estate, industrial parks, chemicals, energy and ports – pushed the index down, while foreign investors recorded a net sell of roughly VND 3.8 trillion for the week, with a single session on July 22 accounting for half of that volume.

Technical indicators showed the market in an oversold condition, prompting some analysts to anticipate a possible bottom and a shift to an accumulation phase. Nguyen Tan Phong of Pinetree Securities highlighted the 1,650‑1,660 support zone and suggested that if buying pressure holds, the index could test the 1,700‑1,720 resistance range in the coming sessions. Huỳnh Anh Huy of Kafi Securities noted a brief rebound driven by bottom‑catching buying, but warned that a single recovery session does not confirm a true bottom. Liquidity rose sharply, driven mainly by selling and margin calls rather than fresh inflows. Analysts expect market direction to depend on the impact of recent U.S. tax policy changes and the upcoming Q2 earnings season, with sectors tied to exports such as textiles, seafood and wood products remaining vulnerable.