Market Overview

The VN-Index witnessed its most significant drop in five months, closing 15.12 points lower after a modest gain in the previous session. Trading volume on the Ho Chi Minh Stock Exchange surged by 28%, reaching VND13.749 trillion (US$540.6 million).

Stock Performance

Within the VN-30 basket, which includes the 30 largest capped stocks, 24 tickers declined. Notably, BVH of Bao Viet Holdings led the downturn with a 3.4% drop, followed closely by MWG of Mobile World and TCB of Techcombank, which fell by 3.3% and 3.1%, respectively.

On a brighter note, three blue chips managed gains: PLX of Petrolimex increased by 0.8%, SSB of SeABank rose by 0.3%, and VCB of Vietcombank closed 0.1% higher.

Foreign Investment Trends

Foreign investors were net sellers, offloading VND734 billion worth of stocks, primarily in FPT Corporation and TCB.

Regional and Global Impact

The HNX-Index and UPCoM-Index also felt the pressure, dropping by 0.89% and 0.77%, respectively. Globally, Chinese blue chips faced their steepest weekly fall since 2022, while European stocks reversed previous gains, despite a rise in oil and gas shares.

In South Korea, despite ongoing political turmoil, shares rebounded after five sessions of declines, buoyed by the finance minister's commitment to stabilizing the financial markets.