HÀ NỘI — Benchmark indices traded differently on Friday, with the VN-Index reversing sharp intraday gains to close lower despite a surge in liquidity and positive overall market breadth.

On the Hochiminh Stock Exchange (HoSE), the VN-Index finished at 1,815.66 points, down 7.11 points from the previous session. In contrast, the HNX-Index on the Hanoi Stock Exchange (HNX) gained 1.4 points to 275.29 points.

The VN-Index's late reversal came after it had traded in positive territory for most of the session. The index climbed above 1,837 points during the morning and was still hovering around 1,830 points at the beginning of the afternoon trade. However, selling pressure intensified towards the close, pushing the benchmark below its reference level.

Market breadth nevertheless remained positive, with 266 stocks advancing, while 188 stocks declined.

Liquidity increased sharply, with total trading value on the two exchanges exceeding VNĐ26.5 trillion (US$1 billion).

Banking stocks were the biggest drag on the VN-Index. Six lenders – VietinBank (CTG), Techcombank (TCB), BIDV (BID), MBBank (MBB), VPBank (VPB) and Asia Commercial Joint Stock Bank (ACB) – collectively took 8.6 points off the benchmark, exceeding the index's overall decline.

CTG exerted the strongest pressure, falling 3.7 per cent and shaving 1.8 points off the VN-Index. TCB declined 3.2 per cent, BID lost 2.6 per cent, MBB dropped 3.2 per cent, VPB retreated 2.7 per cent and ACB fell 3.9 per cent.

Outside banking, Vinpearl (VPL) dropped 5 per cent and took 1.6 points from the index, making it the second-biggest negative contributor. Technology company FPT Corporation (FPT) declined 3.5 per cent, costing the index 0.9 points, while Masan Consumer Corporation (MCH) lost 1.8 per cent and shaved another 0.7 points off the benchmark.

Vingroup (VIC) closed unchanged at VNĐ241,200 per share but led the entire market by trading value, with matched transactions reaching VNĐ3.2 trillion.

Elsewhere, Hoa Phat Group (HPG) gained 1.7 per cent and contributed 0.6 points to the benchmark. Vietnam Airlines (HVN) advanced 3.5 per cent and Vinamilk (VNM) rose 1.7 per cent.

Foreign investors returned to net buying after recording net sales in the previous session. Their net purchases exceeded VNĐ1.2 trillion on HoSE.

The sharp increase in trading activity came ahead of Việt Nam's official reclassification by FTSE Russell from frontier to secondary emerging market status on September 21. — BIZHUB/VNS