Ho Chi Minh City, Feb 28, 2026, 15:56 ICT — The market wrapped up for the day.
- VN-Index settled at 1,880.33 on Friday, notching a 3.1% gain over the week.
- Foreign investors moved back to net buying, with fertilizer stocks and oil-and-gas plays driving a rotation late in the week.
- With the T+2 settlement hiccup out of the way, traders now look ahead to the March 2 PMI and the macro numbers due March 6.
VN-Index managed a gain of 0.69 points on Friday, closing at 1,880.33. The index hovered near 1,900 through a turbulent week, with fresh flows aimed at fertiliser and oil-and-gas stocks, according to Nhi Nguyen at Shinhan Securities. Nguyen described the action as “a technical shake-out” around resistance. Turnover reached 33.4 trillion dong, and foreign investors swung to a net purchase of roughly 190 billion dong, picking up names like FPT, Gemadept, and Mobile World.
With the market closed for the weekend, traders are left sizing up the usual question: will the post-holiday rally survive the next batch of data and fresh flows? The issue isn’t academic—a liquidity squeeze tends to hit hard, especially with the index hovering at a round number and big caps faltering.
Plenty on the docket: Vietnam’s manufacturing PMI lands Monday, with February figures for trade, factory output, inflation, and retail sales all slated for release Friday, according to Trading Economics’ calendar.
VNDIRECT noted the VN-Index climbed 3.1% for the week following the Lunar New Year break, bringing its February gain to 2.8%. Vingroup stood out, surging 22.4% during the month, according to the broker. VNDIRECT also highlighted Green and Smart Mobility (GSM), a Vingroup unit, which increased its charter capital to 43.4 trillion dong and is eyeing an overseas listing with a $20 billion valuation target.
But by the week’s close, a bout of headline risk surfaced. According to Vietnam News, brokerages temporarily paused certain securities settlements Friday after glitches hit the Vietnam Securities Depository and Clearing Corp. The State Securities Commission said things were back to normal by around 2:30 p.m. VN30, which tracks the 30 biggest HoSE stocks, slipped 0.39%. The broader VN-Index managed a slight uptick, but blue chips stayed under pressure.
A VSDC official said the KRX system was undergoing maintenance, causing a delay in the T+2 settlement cycle, contrary to the regulatory timeline. (T+2 refers to settlement two business days post-trade, when both cash and shares are exchanged.)
Friday’s tape was lively on paper, with the VN-Index swinging from 1,863.36 to 1,899.44, based on Investing.com figures. Trade volume clocked in near 858 million shares.
GSM has been drawing investor attention for months now. Back in December, Reuters noted that Vingroup’s advisers tossed out a potential valuation of “around $20 billion” for GSM during talks about a possible international listing. Still, the company made it clear that any deal would hinge on timing and market conditions, and emphasized a listing won’t take place in 2026. Reuters
Going into Monday, there’s a risk that another snag in settlement keeps leverage constrained, with choppy turnover just as traders push the 1,900 level again. Large caps under strain could pull the VN30 down—even if sectors such as fertiliser or oil and gas keep showing strength.
Investors have their eyes on just a few things now: Monday’s PMI print, Friday’s batch of macro data, and fresh signals from the regulator and clearing house. They want to know if Friday’s settlement delay was just a fluke or if it hints at deeper trouble ahead, especially with another hectic week coming up.
