Vietnamese stocks retreat in October as brokerages expect sideways trading in November
Vietnam’s VN-Index closed October 2026 at 1,742 points, down about 1.5% from the end of September, while trading value fell for a third consecutive month. Several brokerages expect the market to trade within a range in November, with its direction depending on capital flows, key index levels and corporate earnings.
At the end of October 2026, Vietnam’s VN-Index closed at 1,742 points, down about 27 points, or roughly 1.5%, from the end of September. During the month, 750 stocks fell and 491 rose. Average daily matched trading value on the Ho Chi Minh Stock Exchange was about VND 15.6 trillion, down nearly 5% from the previous month and marking a third consecutive monthly decline. Foreign investors continued to sell on a net basis, while market trading grew more cautious.
Several brokerages expect the VN-Index to trade within a range in November. VNDirect sees 1,700 points as a support level and expects a base trading range of 1,700–1,770 points; if the index closes a week above 1,770 points, it could recover to 1,800–1,830 points. TPS puts its base-case range at 1,677–1,780 points and assigns that scenario a 60% probability.
Market data graphic compiled by La Giang.（VietVance）
ABS says that if the index holds above 1,651 points and average daily trading value recovers to about VND 20 trillion, it could rise toward 1,800–1,870 points in the short term; if it falls below 1,600 points, it could retreat further to around 1,500 points. These levels are brokerage forecasts, not market moves that have already occurred.
Corporate earnings are another factor watched by brokerages. According to FiinPro data compiled by ABS, as of November 5, 1,120 listed and registered trading companies representing about 99.4% of total market capitalization had published financial reports or preliminary results. Their third-quarter after-tax profit rose 47.6% year on year. Profits in real estate, oil and gas, and retail rose 328%, 346% and 177%, respectively, while financial services profit fell by nearly 45%.
Chart of third-quarter results for listed and registered trading companies.（VietVance）
VDSC expects marketwide profit to rise about 24% year on year in the fourth quarter of 2026. However, SHS warns that geopolitical tensions, high global inflation and interest rates, large outstanding margin loans, and thin market trading could affect investor sentiment. VNDirect advises investors to focus on risk management and avoid chasing rising prices.
Source: VietVance
