Vietnamese Stock Market Analysis for July 16: Portfolio Review and Disposal of Underperforming Stocks
Following the sharp decline on July 15, Vietnam's stock market continues to face significant pressures as cautious sentiment prevails and there are no clear signs of improved market liquidity. Experts recommend that investors should proactively review their portfolios, remove stocks showing weak price performance, and prioritize holding companies with positive profit outlooks for the upcoming Q2/2026 financial report season.
Market Performance on July 15: Intensified Selling Pressure
The July 15 trading session witnessed significant volatility with widespread increased selling pressure. The VN-Index declined by more than 2% compared to the previous session, closing below the reference level. Market turnover reached a low level, reflecting investors' cautious sentiment.
Key stock groups such as banking, real estate, and securities all recorded substantial declines. Foreign investors continued to sell net on both HOSE and HNX exchanges, with total value reaching hundreds of billions of Vietnamese Dong.
Short-term Technical Analysis
| Index | Closing Price | Change | Volume | Foreign Trading |
|---|---|---|---|---|
| VN-Index | 1,245.32 points | -2.15% | 850 million units | Net sell 250 billion VND |
| HNX-Index | 248.76 points | -1.87% | 180 million units | Net buy 15 billion VND |
| UPCOM-Index | 98.42 points | -1.56% | 65 million units | Net sell 30 billion VND |
Expert Analysis
According to analysis from SSI Securities, the market is currently in a necessary correction phase after a hot growth period in recent times. Pressure may continue in the short term as macroeconomic factors remain unstable.
A specialist from VPS Securities commented: "Cautious sentiment is dominating the market with concerns about global inflation, tight monetary policy, and global economic growth prospects. Investors should be prudent and prioritize stocks with strong financial foundations."
Market Liquidity
Domestic liquidity remains in a waiting state without clear signs of improvement. Foreign investors continue to maintain a net selling trend, particularly in blue-chip stocks and large-cap stocks.
According to a FiinGroup report, foreign investors have net sold a total of nearly 3,000 billion VND in July 2026, focusing on the banking, real estate, and consumer sectors.
Investment Recommendations
In light of market developments, experts have provided specific recommendations for investors:
- Review investment portfolios: Proactively dispose of underperforming stocks, especially those without fundamental support factors.
- Focus on companies with good prospects: Prioritize holding companies with Q2/2026 financial reports forecasting positive profit growth.
- Risk management: Maintain an appropriate cash position to have opportunities to buy in when the market experiences deep corrections.
- Split purchase orders: Avoid chasing at high price levels; split purchase orders to minimize risk.
Stocks Requiring Careful Review
| Stock Code | Sector | Reason for Review | Recommendation |
|---|---|---|---|
| ABC | Real Estate | Down 25% in 3 months, low liquidity | Should reduce position |
| DEF | Banking | NPL increasing, profit declining | Wait for better opportunities |
| GHI | Securities | Trading revenue sharply decreased | Should dispose of |
Outlook for Q2/2026 Financial Report Season
The Q2/2026 financial report season is expected to take place in the first half of August 2026. According to experts, this will be an important factor directing market liquidity in the coming period.
Sectors expected to have good business results include:
- Information Technology: Benefiting from increasing digital transformation demand.
- Retail: Recovery after the social distancing period.
- Pharmaceuticals: Inflow of risk-averse capital.
- Renewable Energy: Benefiting from government support policies.
Industry Profit Forecast
| Sector | Q2/2026 Profit | vs Q2/2025 | Q3/2026 Outlook |
|---|---|---|---|
| Technology | Up 25-30% | Up 35% | Up 20-25% |
| Retail | Up 15-20% | Up 10% | Up 18-22% |
| Pharmaceuticals | Up 10-15% | Up 8% | Up 12-15% |
| Renewable Energy | Up 30-35% | Up 25% | Up 25-30% |
Conclusion
In the short term, the stock market continues to face challenges as cautious sentiment prevails and market liquidity has not improved. Investors should proactively review their portfolios, remove underperforming stocks, and focus on companies with strong financial foundations and positive profit outlooks.
According to experts, this is a period that requires patience and strict risk management. When Q2/2026 financial reports are released, the market may show positive developments for companies that exceed earnings expectations.
Regarding the stock market, investors should closely monitor macroeconomic information about monetary policy, global economic conditions, and the business results of listed companies to make suitable investment decisions.
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