Following the correction phase in late October, the market entered November with cautious optimism for a rebound, despite facing significant resistance Impact from pillar stocks The VN-Index closed at 1,640 points on October 31, marking a decline of 155 points from its recent peak of 1,795 on October 14—a drop of over 8.6%. This marks the third consecutive week of market correction, with trading liquidity falling below the 20-week average, signaling cautious investor sentiment and reduced market participation. After a period of strong gains driven by pillar stocks, the recent market correction has primarily impacted large-cap equities—particularly those that fueled the rally in Q3 2025. This includes stocks in the Vingroup family, as well as those in the banking, securities, and real estate sectors. During the final week of October alone, when the VN-Index dropped by 43.5 points, Vingroup stocks accounted for 41.4 points of that decline, underscoring their outsized influence on market performance. The recent market downturn has occurred despite positive macroeconomic and corporate developments. In addition to continued growth reflected in third-quarter financial statements, Vietnam has reached a framework agreement with the United States on a reciprocal tariff rate of 20%—a significant reduction from the previously proposed 46%. […]
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