Daily Market Watch 26/06/2025: Optimism on Trade Deal Offset by Currency Concern

THE EQUITY MARKET

o        The market traded in a muted and cautious tone throughout the session, with sentiment dampened by the lack of concrete news. Many retail investors remained on the sidelines, awaiting clarity on the upcoming U.S. tariff announcement. While rumors circulated that a trade deal could be finalized soon, estimates on potential tariff rates varied widely—from a favorable 12% to a more concerning 20%. Amid such uncertainty, profit-taking pressure also emerged, as investors looked to lock in recent gains.

o        The VN-Index opened slightly positive but quickly dipped below the reference line and remained under pressure for most of the day. Panic selling was observed during midday as weaker technical signals emerged. However, buying demand recovered in the final hour, helping to pare losses. The index closed almost flat at -0.08%, marking another subdued session.

o        Market liquidity softened, with total trading value declining to USD 729 million (-12.3% DoD). Buyers remained cautious, largely awaiting definitive tariff news. Absent any major positive catalysts, market sentiment stayed subdued.

o        Foreign investors returned to net selling, offloading USD 18.8 million, mainly on the HSX. Their top net sold stocks were FPT (-USD 6.4mn), HPG (-USD 5.5mn), STB (-USD 4mn). On the other side, foreign players' top net bought names include: GEX (+USD 9.6mn), SSI (+USD 3.4mn), CTG (+USD 3mn).