Bluechip stocks experience steep drop

By Huu Bat, Trang Nguyen
Tue, October 11, 2022 | 1:33 pm GMT+7

Twenty eight out of 30 blue chips in the VN30 basket plunged from the beginning of the year to October 10 amid a market downtrend.

The index tracks 30 stocks with the highest market capitalization and liquidity on the Ho Chi Minh Stock Exchange.

An investor keeps an eye on the VN-Index. Photo by The Investor/Trong Hieu.

An investor keeps an eye on the VN-Index. Photo by The Investor/Trong Hieu.

Specifically, SSI shares of SSI Securities JSC recorded the strongest drop since the beginning of the year. At the closing session on October 10, the stock was priced at VND17,400 ($0.73) per unit, down 62.82%.

In August 2021, SSI completed a public offering of shares as approved by its shareholders at the 2022 annual general meeting. SSI issued more than 496.4 million shares to shareholders at the price of VND15,000 ($0.63) per unit.

After the issuance, the company's charter capital increased to more than VND14,911 billion ($623.5 million), becoming the securities company with the largest charter capital in the country.

In the first six months of 2022, SSI recorded a revenue and after-tax profit of VND3,538 billion ($147.94 million) and VND1,100 billion ($45.99 million), up 10.6% and up nearly 11% year-on-year, respectively.

Meanwhile, Vietnam Rubber Group (GVR), Vietnam's leading rubber company, ranked second in terms of price decrease. In the October 10 session, GVR shares were priced at VND16,900 ($0.71) per unit, down 54.26%.

In the first nine months of 2022, GVR reported a revenue and after-tax profit of VND18,397 billion ($769.27 million) and VND4,408 billion ($184.32 million), up 2% and up 4%, respectively.

Next were TPBank (TPB), losing 49.33%, and Techcombank (TCB) down 48.4%. In addition, the bluechip "family" trio of VinGroup - Vingroup (VIC), Vinhomes (VHM) and Vincom Retail (VRE) - fell 36.7%, 32.35% and 15.61%, respectively.

Similarly, two other big real estate tickers Khang Dien House Trading and Investment JSC (KDH) and Phat Dat Real Estate Development JSC (PDR) dropped 44.13% and 28.27% year-on-year, respectively.

HPG shares of Hoa Phat Group JSC went down by 47.75%. In the first six months of 2022, HPG recorded a revenue and after-tax profit of VND82,118 billion ($3.43 billion) and VND12,229 billion ($511.35 million), down 27% year-on-year.

GAS of PetroVietnam Gas JSC and SAB of Sabeco were the only two stocks that grew, climbing 13.19% and 26.57%, respectively.

Vietnam's stock market had a favorable start to 2022 when the main VN-Index quickly surpassed 1,500 points. However, given the continuous global turbulence driven by the Russia-Ukraine conflict and the U.S. Federal Reserve's interest rate hikes, and leaders of many large domestic corporations arrested for violating the law, the stock market has kept plunging.

As of October 10, the VN-Index stopped at 1,042.48 points, down 30.42% from the beginning of 2022, making it one of the top five strongly declined stock markets globally.

Comments (0)
  • Read More
Rules on private placement bond issuance should be tightened: Vietnam Finance Minister

Rules on private placement bond issuance should be tightened: Vietnam Finance Minister

Allowing only companies that have liabilities five times higher than their equity at maximum to issue bonds via private placement is a necessary move to mitigate risks and prevent abuse, said Finance Minister Nguyen Van Thang.

Finance - Mon, June 9, 2025 | 6:19 pm GMT+7

EV maker VinFast commits to purchasing all output for Vietnamese suppliers

EV maker VinFast commits to purchasing all output for Vietnamese suppliers

Vietnamese electric vehicle maker VinFast has committed to purchasing all products for domestic suppliers that join its production chain.

Companies - Mon, June 9, 2025 | 5:21 pm GMT+7

Phat Dat affirms leadership role in southern Vietnam's property market following successful launch of La Pura project

Phat Dat affirms leadership role in southern Vietnam's property market following successful launch of La Pura project

The official launch of the La Pura project by Phat Dat Real Estate Development Corp on Sunday in the southern province of Binh Duong made a significant impact, with over 95% of the total inventory in the Zenia sub-zone successfully transacted.

Real Estate - Mon, June 9, 2025 | 4:07 pm GMT+7

Vietnam seeks Samsung partnership in AI-integrated chip design for data centers, telecom networks

Vietnam seeks Samsung partnership in AI-integrated chip design for data centers, telecom networks

Minister of Public Security Luong Tam Quang called on South Korean tech giant Samsung to strengthen its partnership with his ministry in developing Vietnam’s security industry.

Investing - Mon, June 9, 2025 | 3:13 pm GMT+7

Vingroup partners with e-commerce platform Shopee to develop logistics infrastructure

Vingroup partners with e-commerce platform Shopee to develop logistics infrastructure

Vietnam’s leading multi-sector conglomerate Vingroup and Shopee, the country’s top e-commerce platform, on Friday signed an MoU to develop infrastructure for e-commerce fulfillment services, enhance digital connectivity between businesses and consumers, and build a sustainable digital ecosystem.

Companies - Mon, June 9, 2025 | 11:48 am GMT+7

Finish fund Pyn Elite spends $41.4 mln on MBB shares of MBBank in May

Finish fund Pyn Elite spends $41.4 mln on MBB shares of MBBank in May

Finish investment fund Pyn Elite allocated an additional 3% of its portfolio (VND700 billion or $41.38 million) to 26 million MBB shares of MBBank last month, increasing the holding to 12.4%.

Finance - Mon, June 9, 2025 | 11:43 am GMT+7

Fund manager Eastspring Vietnam appoints new CEO

Fund manager Eastspring Vietnam appoints new CEO

Eastspring Vietnam, one of the largest fund managers in the country by assets under management, last Friday appointed Nguyen Quoc Dung as its new CEO and legal representative.

Finance - Mon, June 9, 2025 | 9:03 am GMT+7

U.S. Grains Council signs 5-year cooperation deal with Vietnam

U.S. Grains Council signs 5-year cooperation deal with Vietnam

The U.S. Grains Council (USGC) on Friday signed a five-year cooperation agreement with the Partnership for Sustainable Agriculture in Vietnam (PSAV), reaffirming its long-term commitment to Vietnam’s agricultural development.

Economy - Sun, June 8, 2025 | 5:13 pm GMT+7

Bamboo Capital announces senior personnel changes

Bamboo Capital announces senior personnel changes

Under a board of directors resolution effective last Friday, Vietnam's multi-sector conglomerate Bamboo Capital Group has a new deputy general director, while its first vice chairman Pham Minh Tuan resigned to focus on subsidiary Bamboo Energy.

Companies - Sun, June 8, 2025 | 4:05 pm GMT+7

Vietnam signs deals to import nearly $3 bln worth of US agricultural products

Vietnam signs deals to import nearly $3 bln worth of US agricultural products

Vietnamese businesses accompanying Minister of Agriculture and Environment Do Duc Duy on a six-day visit to the U.S. signed multiple agreements to import nearly $3 billion worth of American agricultural products, expanding bilateral cooperation in the agricultural sector.

Economy - Sun, June 8, 2025 | 10:33 am GMT+7

EPC contract signed for O Mon IV thermal power project in southern Vietnam

EPC contract signed for O Mon IV thermal power project in southern Vietnam

An EPC contract signing ceremony for the O Mon IV thermal power project in Can Tho city took place on Friday, at the headquarters of state-owned Petrovietnam - the investor.

Energy - Sun, June 8, 2025 | 8:00 am GMT+7

Vietnam's agri major Hoang Anh Gia Lai ventures into mulberry cultivation, coffee production

Vietnam's agri major Hoang Anh Gia Lai ventures into mulberry cultivation, coffee production

After overcoming two major obstacles - debt and accumulated losses - Vietnam's agri major Hoang Anh Gia Lai JSC (HoSE: HAG) is charting a bold five-year strategic roadmap, introducing two new business segments: mulberry cultivation and coffee-tea production.

Companies - Sat, June 7, 2025 | 4:35 pm GMT+7

Stock trading accounts hit 10 mln in Vietnam

Stock trading accounts hit 10 mln in Vietnam

Vietnam recorded a large increase in the number of stock trading accounts in April and May, when the U.S. tariff turbulence caused strong market fluctuations.

Finance - Sat, June 7, 2025 | 3:38 pm GMT+7

Thailand’s SCG books $301 mln in Q1 sales from Vietnam

Thailand’s SCG books $301 mln in Q1 sales from Vietnam

Siam Cement Group (SCG) reported sales of VND7.77 trillion ($301 million) in Vietnam in Q1/2025, reflecting the country as a key market for the Thai conglomerate in Southeast Asia.

Companies - Sat, June 7, 2025 | 9:54 am GMT+7

Vietnam’s energy firm identifies 3 emissions violations among Vietnamese enterprises

Vietnam’s energy firm identifies 3 emissions violations among Vietnamese enterprises

Looking ahead, 2030 is a milestone year, as major global brands such as Unilever, Nestlé, H&M, and Nike have committed to cutting Scope 1 and Scope 2 emissions by 50-65%, said Pham Dang An, CEO of Vu Phong Energy Group, a major developer of clean energy in Vietnam.

Companies - Sat, June 7, 2025 | 8:00 am GMT+7

Deal acquiring financial firm of Vietnam's SeABank invalid: Aeon Financial

Deal acquiring financial firm of Vietnam's SeABank invalid: Aeon Financial

Aeon Financial Service Co., Ltd. on Friday stated that its deal to purchase a financial company owned by Vietnam's SeABank is invalid due to "inappropriate accounting transactions."

Finance - Fri, June 6, 2025 | 11:57 pm GMT+7