Starting at 2 PM, the market turned red as financial and banking stocks faced heavy adjustments, dragging the index downward. Intense profit-taking pressure caused the VN-Index to drop by over 20 points at one stage, but a late-session rebound in bottom-fishing demand helped narrow the decline.
The most negatively traded stocks were all from the financial sector, including VPB, VCB, BID, TCB, CTG, and SSI. A widespread correction in banking stocks, though modest at around 1%, created a cumulative pressure and ripple effect due to their large market capitalization, challenging the overall market.
The most negatively traded stocks were all from the financial sector.
Increased selling pressure boosted liquidity, with SSI leading the market in trading volume at over 1.765 trillion VND. SSI closed down 4.5%, making it one of the most negatively performing stocks today. Other brokerage stocks like VIX, VCI, SHS, VND, HCM, and MBS also fell by 2-4%.
Mid and small-cap stocks faced significant pressure, with many declining over 3%, including CEO, DIG, NVL, and HQC. This reflects a broader cautious sentiment, though there was no widespread panic selling or “zero buyers” phenomenon.
On the positive side, without the support of VIC (+3.2 points) and the explosive performance of VJC, which hit its ceiling price at the end of the session, the VN-Index could have been even more negative. VJC alone added 3.2% in the afternoon session, reaching its ceiling price of 219,100 VND per share. The low-cost airline’s stock continued to set new highs, pushing Vietjet Air’s market capitalization to over 591 trillion VND.
Thanks to VJC’s strong performance, along with HDB, the wealth of Mrs. Nguyen Thi Phuong Thao, Chairwoman of Vietjet Air, surged by 412 million USD to 4.9 billion USD, ranking her 818th among the world’s richest individuals. According to Forbes, in Vietnam, her wealth is second only to billionaire Pham Nhat Vuong.
VIC also reached a new high of 243,000 VND per share. Since the beginning of the year, VIC has increased by approximately sixfold. Vingroup’s market capitalization is nearly 950 trillion VND, leading the Vietnamese stock market and nearly double that of the second-ranked Vietcombank.
By the end of today’s trading session, billionaire Pham Nhat Vuong’s wealth, as updated by Forbes, rose to 22.2 billion USD, ranking him 102nd globally. At one point during the day, the Vingroup Chairman entered the top 100 richest people in the world.
At the close, the VN-Index fell by 7.62 points (0.46%) to 1,660.36 points. The HNX-Index dropped by 3.92 points (1.5%) to 257.3 points, and the UPCoM Index edged down by 0.01 points to 118.92 points. Liquidity surged compared to the previous session, with HoSE trading value exceeding 25.475 trillion VND, nearly 50% higher than yesterday. Foreign investors net sold over 400 billion VND.
Vingroup: Vietnam’s First Trillion-Dollar Market Cap Enterprise?
Billionaire Pham Nhat Vuong’s Vingroup is poised to become Vietnam’s first trillion-dong market capitalization enterprise.
Vietnamese Billionaire Pham Nhat Vuong Sets Unprecedented Record on Historic “Red Day”
Billionaire Pham Nhat Vuong has become the first Vietnamese individual to achieve this remarkable milestone.
Vingroup’s Historic Deal: Official Response from the State Securities Commission of Vietnam (SSC)
Vingroup is set to issue nearly 3.9 billion bonus shares (at a 1:1 ratio), boosting its chartered capital to 77 trillion VND.
Foreign Block Buys Nearly VND 600 Billion as VN-Index Surges: Which Stocks Were Scooped Up the Most?
Foreign investors’ trading activity has been a significant boost to the market, with a net buying value of approximately 579 billion VND. This influx of investment highlights their confidence in the market’s potential and serves as a positive indicator for future growth.
Billionaire Pham Nhat Vuong’s Stock Surges to Daily Limit, Market Cap Tops $6.3 Billion
From its lowest point, this stock has surged by over 20% in market value.
