Bluechip stocks experience steep drop
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.
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.
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