Daily Market Watch 11/03/2026: Market Rebounds Sharply as Global Oil Prices Decline

MARKET HIGHLIGHTS

o       Vietnam’s stock market extended its strong rally at the open, supported by (1) global oil prices declining further to around USD 80/bbl, and (2) a significant easing of forced liquidation pressure. With the force-sell pressure largely dissipating, mid-cap stocks rebounded strongly and led the market’s gains. Meanwhile, VN30 and small-cap stocks also advanced, keeping overall market breadth firmly in positive territory. A key highlight of the morning session was the sharp rally in Vingroup-related stocks, with VIC, VHM, VRE, and VPL all rising more than 4%. In contrast, state-owned banks underperformed, with VCB trading flat, while BID and CTG posted slight declines. Both foreign and domestic investors actively increased their buying throughout the morning, helping the VN-Index close the morning session up 1.95%, with advancers outnumbering decliners by nearly three times, including more than 100 stocks gaining over 2%.

o       The market strengthened further in the afternoon session as buying momentum accelerated. Strong participation from retail investors continued to drive mid-cap stocks sharply higher. With prices rising significantly across the board, many investors opted to hold rather than sell, resulting in a wave of stocks hitting their daily limit-up levels with substantial ceiling-price buy orders. The VN-Index closed up 3.08% (+51.61 points). Market breadth remained positive at 291 gainers versus 57 decliners, compared to 240 gainers and 76 decliners in the morning session.

o       Market liquidity declined sharply, as many investors chose to hold their positions rather than sell into the rally. Total trading value on HoSE reached only USD 1.1 bn (-31% DoD). Notably, 28 out of 30 stocks hitting their ceiling prices still recorded significant unmatched buy orders at the ceiling level. With selling pressure easing and investors holding onto their positions after the recent market shock, overall trading liquidity remained noticeably subdued.

o       Foreign investors continued their net buying for the second consecutive session, with total net inflows reaching USD 41.7 mn on HoSE. Net buying was concentrated in MWG (+USD 22.9 mn), ACB (+USD 4.5 mn), and HPG (+USD 4.3 mn).

o       The Ministry of Industry and Trade and the Ministry of Finance raised the retail price of RON95-III gasoline by VND 2,080 to VND 29,120/liter on March 10. E5 RON92 increased by VND 1,350 to VND 26,570/liter, diesel rose by VND 478 to VND 30,717/liter, kerosene declined by VND 2,706 to VND 32,385/liter, while fuel oil increased by VND 3,380 to VND 24,707/kg. It is also worth noting that global oil prices rebounded nearly 5% today, following news that tensions in the Strait of Hormuz continue to escalate. Oil & Gas  stocks rebounded sharply in the last several minutes as a result.

o       All sectors ended the session in positive territory. Consumer Discretionary (+6%) was the best-performing sector, supported by strong retail inflows and foreign net buying. Industrials (+4.8%) also posted strong gains, led by Gelex-related stocks and shipping companies, as investors anticipated higher freight rates.

o       Energy stocks also rebounded strongly (+4.9%), reversing their previous declines seen earlier in the week. The entire sector posted solid gains, supported in part by foreign net buying in BSR and PVT. As a result, BSR hit its daily limit-up, while PVT advanced 4.32%, making them the top performers within the sector.