The Vietnamese stock market has just experienced a widespread decline in the trading session on March 8. VN-Index lost more than 21 points (-1.66%) with high liquidity, the trading value on HoSE reached over 31,500 billion VND (~1.3 billion USD). The corresponding market capitalization on HoSE was blown away by more than 68,000 billion VND (~2.8 billion USD).
With today’s sharp decline, VN-Index has experienced the 15th drop on March 8 in its 24-year history (equivalent to a probability of over 62.5%). The decline today is equivalent to 2022 when VN-Index lost 1.7%. This is also the second largest decline in the history of VN-Index recorded on March 8.
Stocks plummeted, causing the accounts of stock investors to also turn “red hot”. Of course, the ones who lost the most money on International Women’s Day (March 8) today are entrepreneurs, business owners with large ownership amounts, up to hundreds of millions, even billions of shares.
As in the case of Mr. Pham Nhat Vuong – Chairman of the Board of Directors of Vingroup, the value of the VIC shares in the possession of this billionaire (including direct and indirect) has decreased by nearly 1,600 billion VND in the session on March 8. Similarly, the asset value on the stock market of Mr. Tran Dinh Long – Chairman of the Board of Directors of Hoa Phat (more than 1.5 billion HPG shares) also decreased by nearly 1,100 billion VND in the past session.
Many other entrepreneurs such as Mr. Bui Thanh Nhon – Chairman of the Board of Directors of Novaland, Mr. Nguyen Van Dat – Chairman of the Board of Directors of Phat Dat, Mr. Dao Huu Huyen – Chairman of the Board of Directors of Duc Giang Chemical, Mr. Truong Gia Binh – Chairman of FPT, … all “temporarily lost” hundreds of billion VND after the session on March 8. Conversely, the asset block of Mr. Ho Xuan Nang – Chairman of the Board of Directors of Vicostone increased significantly thanks to VCS shares that surged against the market.
It should be emphasized that the increase or decrease in the value of assets on the stock exchange (calculated based on the amount of shares held) is only temporary. In fact, the entrepreneurs are still holding the role of business owners and have no intention to sell shares at the current time. Therefore, asset fluctuations are only for reference purposes.
