Daily Market Watch 08/05/2026: Select Large Caps Lift The Index While The Broad Market Retreated

MARKET HIGHLIGHTS

o       Vietnam’s equity market opened below the reference level as investors grew increasingly concerned over escalating Middle East tensions following reports of renewed clashes between the U.S. and Iran around the Strait of Hormuz. As a result, WTI crude oil surged over 2% to USD97/bbl this morning. The VN30 basket broadly traded in the red. Vingroup stocks also trended lower after a stellar rally in the last several days. This created visible pressures to both the Index and investor sentiment. Market momentum gradually weakened and most stocks across the market declined.

o       State-owned banks, however, turned stronger and led the market. BID, CTG, and VCB rose nicely ad paired some losses. Gelex-related stocks also continued their strong momentum in the morning session, with GEX, GEE, and VIX all rising more than 4% thanks to strong foreign net buying. Meanwhile, CTD hit the floor for a second consecutive session amid unverified negative rumors. Investor sentiment further deteriorated after the company’s BoD announced the dismissal of its Deputy CEO and CFO even though the Chairman appeared on media as usual.

o       Strong inflows in the afternoon supported a sharp rebound in mid-cap stocks.  Meanwhile, VN30 stocks recovered notably, although heavy foreign selling pressure kept most large-cap stocks in negative territory. Vingroup stocks turned around and pushed the VN-Index to an intraday high of 1,921 points. Gelex-related names remained the strongest performers among mid-caps (GEX +6.69%, VIX +5.08%, and GEE +4.83%).

o       The VN-Index closed up 0.3% (+6.36 pts), mainly driven by gains in Vingroup stocks, Gelex-related names, and state-owned banks. Meanwhile, the broader market remained weak, with 213 decliners versus only 97 advancers. Most declining stocks recorded low liquidity as retail investors remained cautious amid the lack of supportive news flow. This is a usual pattern in May.

o       The mid-cap VNMID Index gained 0.7%, outperforming the broader market mainly thanks to strong gains in large mid-cap names such as Gelex-related stocks, NVL, and MSB. The small-cal VNSML was even weaker, falling 0.5% with 113 decliners, largely due to muted liquidity conditions. Meanwhile, the VN30 edged down 0.2%, pressured mainly by declines in medium-weight constituents, with market breadth also negative at 18 decliners versus 10 advancers.

o       Market liquidity remained elevated, with total trading value on HoSE reaching USD1,082 mn today (-5% DoD). Foreign investors continued to record net selling of USD34.8 mn on HoSE, bringing cumulative net selling this week to USD167 mn. Net selling was concentrated in FPT (-USD17.1 mn), VHM (-USD10.4 mn), and ACB (-USD5.3 mn). Meanwhile, notable net buying was seen in MSN (+USD6.2 mn), VIX (+USD5.7 mn), and VIC (+USD5.2 mn).