Market Takes a Dive

The stock market experienced a significant downturn, closing 6.58 points lower after a brief gain in the previous session. This marks a concerning trend for investors and market analysts alike.

Trading Volume Drops Sharply

Trading on the Ho Chi Minh Stock Exchange saw a dramatic 30% plunge, reaching a low of VND8.53 trillion (US$336 million), the lowest point since April 2023. This sharp decline in trading volume highlights the growing uncertainty in the market.

VN-30 Basket Suffers Losses

Within the VN-30 basket, which includes the 30 largest capped stocks, 20 tickers fell. Notable declines were seen in VRE of retail real estate arm Vincom Retail, which dropped by 3.6%, and HDB of HDBank, which saw a 2.5% decline.

Blue Chips and Foreign Investors

Despite the downturn, seven blue chips managed to gain. Leading the pack was BVH of insurance company Bao Viet Holdings with a 2.6% rise. However, foreign investors were net sellers, offloading VND629 billion worth of stocks, primarily in FPT of IT giant FPT Corporation and VPB of private lender VPBank.

Impact on Other Indices

The HNX-Index for stocks on the Hanoi Stock Exchange fell by 0.61%, while the UPCoM-Index for the Unlisted Public Companies Market slightly decreased by 0.08%. These movements indicate a widespread impact across different segments of the market.