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Original headline: Nhịp đập Thị trường 20/10: Dòng tiền trở lại trong phiên chiều, thị trường lấy lại sắc xanh
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Related tickers and likely impact
VNINDEX
▲ Likely positiveRelevance: medium
| Market | Vietnam stocks |
|---|---|
| Close on 10/20/2026 | 1,691.97 |
| Change that session | +0.13% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
Related news
- VN-Index Falls for 4 Weeks: Where Is Cash Flow Finding Opportunities?
VN-Index fell 29.18 points (1.68%) in the October 12-16 week to 1,705.91, its fourth straight weekly decline and down 4.4% year to date. Liquidity weakened, with average market trading value down 27.3% to VND 14,576 billion, while foreign investors net sold VND 3,141 billion in the week and VND 115,503 billion year to date. MBS flagged the 1,650-point zone, the July 2026 bottom, as a key support level to watch for the October 19-23 week. The report cited Q3 GDP growth of 9.95% and Brent crude closing the week at USD 109.86 per barrel, and MBS noted October has the weakest performance of the year. Experts advise choosing stocks based on business results rather than chasing sector rotations.
- Foreign investors pour nearly VND 350 billion into one bank stock in the October 20 session
Foreign investors were net sellers of about VND 275 billion across the market in the October 20 session, including VND 220 billion on HOSE. TCB was the most heavily bought stock on HOSE at over VND 345 billion, followed by HPG and FRT at VND 145 billion and VND 78 billion, while ACB led net selling at VND 137 billion. The VN-Index stayed in the red for most of the session amid cautious sentiment before recovering slightly to close up 2 points at 1,691, with HOSE liquidity topping VND 13,000 billion.
- More than US$1 billion set to flow into stocks: has the time to deploy arrived?
BSC (BIDV Securities) maintains that valuations across many sectors have become more attractive, making now a reasonable time to allocate to stocks for the medium to long term. Market-wide profits rose 50% year on year in Q2 2026, and BSC raised its 2026 profit growth forecast to 26% and expects 12% growth in 2027. The VN-Index's trailing 12-month P/E, excluding the Vingroup group, is 10.5x, while the 2027 forward P/E is about 9.5x, a discount of nearly 30% to the average. Liquidity remains the main bottleneck, though banking-system liquidity pressure has begun to ease and the probability of rate cuts in 2027 has risen. Foreign outflows are expected to ease, with about VND 33,000 billion (US$1.27 billion) of inflows from the market upgrade expected mainly in 2027.
- Liquidity Plunges as Money Exits Retail, Oil & Gas and Securities Stocks
- Expert view: VN-Index still at risk of decline, three stock groups expected to attract cash flow after Q3 earnings season
Analysts from Pinetree and Kafi say VN-Index has not yet confirmed a bottom, though it regained 1,700 points on Friday after a fourth straight weekly decline. Pressures include high interest rates, 9-month average CPI of 4.52%, possible Fed rate hikes, and foreign net selling of over VND 3,000 billion on HoSE last week. Pinetree sees a technical rebound with resistance at 1,715–1,750 points, while Kafi warns of a possible retest of 1,650–1,670 if 1,680 is lost. Q3 earnings, due by October 20, are expected to drive sharper divergence among stock groups. The experts advise limiting margin loans, avoiding chasing rallies, and favoring stocks with strong Q3 prospects.
- Foreign investors may stop net selling Vietnamese stocks from mid-2027
Experts expect foreign investors to struggle to return to net buying this year but see a possible reversal from mid-2027 as index-upgrade inflows rise and selling room shrinks. Foreigners have sold net for 18 straight sessions on HCMC, over VND 24,000 billion, the longest streak in two years, and bought net only one session since the FTSE Russell upgrade. Year to date net outflows total VND 118,000 billion (US$4.6 billion), and the index briefly fell below 1,700 points. Analysts blame capital shifting to US, Japanese and Chinese tech stocks, high global rates, and active funds taking profits after passive funds had already invested. Foreign ownership on HCMC has dropped from 20.6% at end-2024 to 12.5%, while the upgrade could draw US$2.5–3 billion in passive inflows, of which only about 10% has been deployed.
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