Vietnam's VN-Index stalls amid low liquidity and continued foreign selling

The VN-Index closed the week of June 29‑July 3 at 1,862.08 points, down 0.53%, as trading remained confined to the 1,850‑1,880 range. Analysts note that liquidity has stayed at a low‑average level, with foreign investors selling net more than VND 3 trillion over five sessions, keeping the market cautious.

While the quarterly earnings season could provide a boost, experts say a stronger catalyst is needed for the index to break the historical resistance zone near 1,900 points. Positive macro data—including Q2 GDP growth of 8.39%, a cooling CPI, and a manufacturing PMI of 51.8—offers a supportive backdrop, and recent government reforms aim to spur investment.

MBS highlighted that mid‑ and small‑cap stocks are attracting the limited capital, with the Midcap index up 0.67% and Smallcap up 0.04%, while blue‑chip stocks slipped 0.3%. The firm expects liquidity to improve in the coming week and points to a potential “spark” from Vingroup’s large‑scale share issuance, which could lift the VN-Index beyond its current psychological barrier.