Market Overview

The Ho Chi Minh Stock Exchange experienced a notable downturn, with the index closing 1.51 points lower, following a 3.21-point drop in the previous session. Trading volume decreased by 12% to VND13.48 trillion (US$531 million).

The VN-30 basket, which includes the 30 largest capped stocks, saw 15 tickers fall. Notable declines included PLX of fuel distributor Petrolimex dropping 1.3%, and VIC of private conglomerate Vingroup with a 1% decline. Additionally, HPG of steelmaker Hoa Phat Group and SHB of Saigon Hanoi Commercial Bank both fell 0.9%.

Despite the overall decline, 11 blue chips managed to gain value. BVH of insurance company Bao Viet Holdings and HDB of HDBank both closed 1.3% higher. Foreign investors were net sellers, with significant sales in FPT of IT giant FPT Corporation and MSN of conglomerate Masan Group, totaling VND286 billion.

Meanwhile, the HNX-Index for stocks on the Hanoi Stock Exchange fell 0.08%, and the UPCoM-Index for the Unlisted Public Companies Market dropped 0.07%. In contrast, Asian stocks generally gained on Thursday, influenced by Wall Street's tech-led rally overnight and expectations of a Federal Reserve interest-rate cut.