VN-Index Surges on Record Liquidity as the Market Enters a New Phase

The VN-Index recorded an exceptional session as capital flowed in strongly, HoSE matched-trading liquidity hit a record and large-cap stocks continued to play the leading role. After a sharp intraday rise, pressure shook the index, but late-session demand kept the market in the green.

STRONG BUT DIVERGENT CASH FLOW

What stands out is not only the rise of the headline index but the structure of the cash flow. VN30 outperformed the VN-Index as the biggest flows went into pillar stocks such as banks, steel and some real estate names. Meanwhile, many previously overheated stocks began to show signs of profit-taking, reflecting more cautious sentiment after a prolonged rally.

FOMO RISK AND SUPPORT ZONES TO WATCH

Analysts say the market has climbed for more than a month and needs a technical correction to build a fresh base. The support zone around 1,484-1,500 points is also where investors can gauge the health of cash flow after the strong moves.

THE VIEW FROM QP HOLDINGS

With a long-term investment orientation, QP Holdings prioritises the quality of cash flow over chasing index signals. Sectors tied to macro fundamentals – infrastructure, real estate, banking and energy – are still seen as having room to run if earnings clearly improve. Investors should avoid buying in moments of euphoria, manage position sizing and protect profits on positions that have risen sharply.

Record liquidity is a positive signal, but the more suitable strategy in this phase is to deploy capital on corrections and favour businesses with solid growth foundations.