Overview of the trading session
Mid-session trading on April 9, 2026 , the Vietnamese stock market continued its correction trend, with all three major indices declining. On the HOSE, the VNINDEX fell 1.0% to 1,738.93 points with a trading volume of 490.1 million shares ; on the HNX, the HNXINDEX decreased 1.1% to 250.56 points; and the UPCOMINDEX dropped 0.5% to 127.01 points. Market breadth was generally mixed, reflecting the continued dominance of selling pressure despite strong capital flows in some leading stocks.
Liquidity on the HOSE was significantly concentrated in the real estate and financial sectors, with notable stocks such as NVL (65.65 million shares traded), VIX ( 30.12 million) , DXG ( 27.37 million) , and SHB ( 25.61 million) . However, the spread of capital was not broad enough to pull the index out of the correction phase. This indicates that the market is in a state of tug-of-war, where localized support has not yet created a sustainable balance for the entire exchange.
Outstanding stocks on HOSE
On the upside, some stocks recorded notable gains, but these were mostly localized. SJS rose 6.9% to 52,700 VND, DAH increased 6.7% to 3,180 VND, and MDG gained 6.7% to 40,700 VND. This reflects continued buying pressure in a few individual stocks, particularly in speculative or short-term trading groups.
On the downside, selling pressure spread further, with many stocks experiencing sharp corrections. PNC fell 7.0% to 26,000 VND, HRC dropped 6.9% to 43,750 VND, and SMA declined 6.5% to 7,950 VND. The contrast between stocks that hit the ceiling price and those that fell sharply shows a clearly polarized market, but the overall trend still leans towards selling.
Trends by industry group
The real estate sector was the most notable highlight of the session, with some stocks recovering better than the overall market. NVL rose 5.1% , DXG increased 2.7%, while VHM remained almost unchanged at -0.4% and VIC fell 1.1% . This development suggests that money is flowing back into some high-liquidity stocks, but not strongly enough to create a consensus effect across the entire sector.
Conversely, the financial services sector faced significant pressure. VIX fell 1.4% , SSI fell 1.9% , VCI fell 2.9% , VCK fell 3.3% , and HCM fell 1.8% . Meanwhile, the banking sector showed more mixed performance, with TCB rising 0.8% , STB rising 0.3% , while SHB fell 1.3% , MBB fell 0.4% , and VCB fell 1.2% .
Other sectors experiencing significant selling pressure include chemicals, tourism, industrial goods, and technology. DGC fell 3.8% , GVR fell 2.1% ; in tourism, VJC dropped 2.4% , VPL fell 3.4% , despite a strong increase in DAH ; and in technology, FPT declined 1.0% . The sector picture shows that selling pressure is not concentrated in just one group of stocks, but is spreading to many large and medium-capitalization groups.
Key signals from technical stocks
In terms of technical signals, some stocks are showing positive momentum despite the overall weak market environment. DLG reached a composite score of 75.6 with an RSI of 69 , a rising MACD , and a rising EMA ; VIX reached 75.4 with an RSI of 63 , a rising MACD , but a falling EMA ; and LPB reached 73.7 with an RSI of 65 , a rising MACD , and a rising EMA . This group of stocks has a relatively better signal than the market average.
In the liquidity-leading group, VIX continues to attract large trading volumes but has not yet escaped the pressure of correction. This indicates that capital is prioritizing stocks with strong price movements, but the short-term trend still needs further confirmation from market breadth. When the overall index remains weak, individual positive technical signals often only reflect selective recovery.
Developments on other exchanges
On the HNX, the HNXINDEX fell 1.1% to 250.56 points, with strong divergence between stocks that hit the ceiling price and those that fell sharply. Most notably, NHC , NAP , and VLA all increased by 10.0% ; CTT increased by 9.8% and SFN increased by 9.8% . Conversely, DDG fell by 11.1% , HHC by 10.0% , CET and TKU both fell by nearly 9.8% , and QTC decreased by 9.7% .
On UPCOM, the UPCOM INDEX fell 0.5% to 127.01 points. Several stocks experienced significant fluctuations, such as ONW ( up 38.9%) , GER ( up 25.0%) , and DCH ( up 25.0%) , while PJS ( down 39.9% ) and SPH ( down 32.0%) saw sharp declines. This development reinforces the view that capital flows remain strong but are primarily concentrated in individual stocks, failing to form a consensus trend across the entire market.
Outlook, support levels, and risks
In the short term, the VNINDEX is under downward pressure and still needs further confirmation from demand to return to equilibrium. The 1,730 point level is considered the nearest support level, while the 1,750-1,760 point range is a resistance area that needs close monitoring. If liquidity does not improve and market breadth does not expand in a positive direction, the technical rebound may continue to be selective.
The main market risk right now is the widespread selling pressure across large-cap groups and the lack of consensus among sectors. Conversely, if the real estate, banking, and some stocks with positive technical signals continue to maintain liquidity, the market may experience a short-term equilibrium. However, at present, the overall picture still leans towards a mid-day correction.