Daily Market Watch 14/04/2026: Interest Rate & Oil Price Adjustments Boost Sentiment. Steel & Property Lead the Market

MARKET HIGHLIGHTS

o       Vietnam’s equity market opened sharply higher as sentiment improved after oil prices reversed much lower on signals that the U.S. and Iran may resume negotiations. WTI declined 3.48% to USD 95.6/bbl, while Brent fell 1.4% to USD 97.9/bbl. The VN-Index peaked shortly after the open, rising 1.45% (+25.47pts) thanks to the performance of several large-cap stocks. However, mid- and small-cap stocks faced strong profit-taking pressure from recent highs, pulling them back toward the reference level. Market momentum was primarily driven by VN30 stocks, particularly Vingroup names. VIC extended its recent rally with over 2% return in the morning. Several other VN30 constituents, mainly banks and HPG, also advanced 1–2%. The VN-Index closed the morning session up 0.61%. Market breadth remained relatively balanced at 157 gainers vs. 135 decliners.

o       In the afternoon session, news that HPG increased steel bar and coated steel prices triggered a strong rebound in steel manufacturers and a number of other mid-cap stocks. CB240 and D10 CB300 steel prices rose to VND 15,430/kg from VND 13,500/kg at the beginning of the year. In addition, prices of color-coated and cold-rolled steel sheets increased by VND 500/kg, effective from April 18. Improved sentiment toward the sector drove steel stocks higher, with HSG, NKG, and TLH hitting their ceiling prices, while HPG gained 2.70% on strong net foreign buying.

o       The market’s afternoon performance was also supported by the sharp rally of Vingroup stocks. VHM closed up 4.88% (+4.12% from its morning level), while VIC rose +3.44%. Both are doing extremely well after several supportive news were recently released, including (1) the kick-off of Hanoi Quang Ninh railway project, (2) the adjustment of interest rates, (3) the generous dividend payment policy of VHM (60% by cash and 100% by stock). The VN-Index closed at 1,775.65pts (+0.95%), in which the majorityof its gain was contributed by VIC and VHM. Market breadth improved compared to the morning session, with 173 gainers vs. 135 decliners.

o       Market liquidity stayed average at USD 902 mn on HoSE (+5.9% DoD). Retail investors are more active these days as we notice. They are more confident as interest rates show signs of cooling, and global oil prices are moving down. Both were the key concerns that dragged stock prices heavily in March. Foreign investors recorded net buying of USD 5.9 mn, with inflows concentrated in VIC (+USD 7.1 mn), HPG (+USD 7.0 mn), and MBB (+USD 5.1 mn). On the selling side, pressure focused on FPT (-USD 7.3 mn), BID (-USD 2.4 mn), and NVL (-USD 1.5 mn). Foreign investors have been trading more positively since the EM upgrade news was announced by the FTSE last week. But their total net buy was still rather modest.

o       Credit growth was solid in Q1. At a press conference on April 14, Deputy Governor of the SBV, Pham Thanh Ha, stated that as of March 31, 2026, total outstanding credit in the banking system exceeded VND 19.18 quadrillion, up 3.18% from end-2025. As of March 24, total money supply had increased 1.04% year-to-date, while deposits rose 0.44% and credit growth reached 2.15%.