VN-Index faces downward pressure amid foreign selling

The VN-Index has faced significant downward pressure, marking five consecutive sessions of decline to close at 1,737.71 points. This represents a weekly loss of 2.66%. Market analysts identify the 1,715-point level as a critical support zone, while 1,760-1,780 points serves as a key resistance area.

Several factors are contributing to the market's volatility. High interest rates and heavy net selling by foreign investors—totaling over 5,000 billion VND in a single week—have intensified selling pressure. Additionally, the market is reacting to the recent upgrade to FTSE Russell's emerging market secondary status, with some investors adopting a “sell on news” approach.

Despite the downturn, macroeconomic indicators provide some support. Vietnam's third-quarter GDP grew by an estimated 9.95% year-on-year. Investors are now looking toward upcoming third-quarter corporate earnings and the performance of the banking and securities sectors to determine if the market has reached a technical bottom.