Market Overview

The VN-Index experienced its most significant drop in two weeks, closing 9.42 points lower after a previous session decline of 1.38 points. Trading on the Ho Chi Minh Stock Exchange decreased by 11% to VND13.933 trillion (US$548.3 million).

The VN-30 basket, comprising the 30 largest capped stocks, saw 25 tickers fall. Notably, MWG of electronics retail chain Mobile World saw the biggest drop of 2.84%, followed by POW of electricity producer Petrovietnam Power Corporation with a 2.77% decline, and VRE of retail real estate arm Vincom Retail, down 2.3%.

Conversely, five blue chips gained. SAB of brewer Sabeco went up 2.1%, PLX of fuel distributor Petrolimex rose 0.7%, and VCB of state-owned lender Vietcombank closed 0.5% higher. Foreign investors were net sellers to the tune of VND651 billion, mainly selling FPT of IT giant FPT Corporation and MWG.

The HNX-Index for stocks on the Hanoi Stock Exchange, home to mid and small caps, fell 0.30%, while the UPCoM-Index for the Unlisted Public Companies Market remained steady. Global shares were mixed on Wednesday as markets digested political turmoil in South Korea and France, impacting regional and European markets respectively.