VN-Index dives in a year low

By An Le
Thu, May 12, 2022 | 5:41 pm GMT+7
 VN-Index plunged to a year low on May 12, 2022. Photo by The Investor/Trong Hieu.

VN-Index plunged to a year low on May 12, 2022. Photo by The Investor/Trong Hieu.

The Vietnamese stock market saw a downturn on Thursday, with VN-Index losing more than 62 points to close at 1,238.84, a year low.

Despite the momentum gained in the previous two consecutive sessions, investors were concerned about the ongoing loss in liquidity. As a result, the market quickly plummeted to nearly 1,280 points after one hour of trading.

The selling force was extended on a large scale into the afternoon, sending several blue-chip stocks to the floor.

Twenty nine stocks in the VN30 basket, which tracks the price of 30 leading stocks in terms of market cap and liquidity on the Ho Chi Minh Stock Exchange (HoSE), were in the red, of which 11 fell to the floor, including PLX, MSN, BID, TCB, VRE, GVR, VPB, SSI, BVH, POW, and STB. The only gainer was SAB (Sabeco) with a slight increase of 0.9%.

This movement pulled VN30-Index down 70.06 points to 1,279.76, with transaction value reaching VND7,308 billion ($316.8 million), equivalent to 46% of the HoSE figure.

Small and medium-sized stocks also failed to avoid the loop with VNSmallCap and VNMidcap down by 5.34% and 5.31% respectively.

VN-Index closed the session on Thursday at 1,238.84, down 62.69 points, with 424 losers (163 stocks hitting the floor) and only 39 gainers. HNX-Index fell 17.52 points (5.26%) to 315.52, while UpCoM-Index dropped 2.32 points (2.38%) to 96.44.

On the three exchanges, 858 stocks were losers (221 stocks hit the floor) and 155 gainers, with total transaction value at VND18,006 billion ($780.5 million), up 38% from the previous session.

Many groups saw stocks hitting the floor, including banking stocks like TCB, VPB, BID, VIB, STB, and LPB; and securities stocks like SSI, VND, AGR, APG, VCI, HCM, and VIX.

The blue coverage also expanded to real estate stocks like VRE, CEO, L14, IJC, DXG, DIG, and DXS; or construction stocks such as HBC, SCG, PC1, VCG, CTD, and DPG.

Other groups were under strong selling pressure with red the overwhelming color include oil and gas, coal, steel, agriculture, fertilizer, cement, and seafood.

Foreign investors recorded VND93 billion ($4 million) in net selling on HoSE, focusing on HPG (Hoa Phat Group), VIC (Vingroup), and VCB (Vietcombank).

Comments (0)
  • Read More
Vietnam-US issue joint statement on Reciprocal Trade Agreement Framework

Vietnam-US issue joint statement on Reciprocal Trade Agreement Framework

Vietnam and the United States on October 26 issued a joint statement on the Framework for a Balanced and Fair Reciprocal Trade Agreement after many months of negotiations.

Economy - Sun, October 26, 2025 | 9:28 pm GMT+7

MBBank achieves sustainable growth in 9 months, leads digital transformation

MBBank achieves sustainable growth in 9 months, leads digital transformation

Hanoi-based MBBank recorded positive growth across scale, efficiency, and asset quality in the first nine months of the year, underscoring its strong internal resilience amid continued volatility in the financial market.

Banking - Sun, October 26, 2025 | 5:38 pm GMT+7

Vingroup to develop 6,300 ha urban complex project in Congo

Vingroup to develop 6,300 ha urban complex project in Congo

Vietnam's leading private conglomerate Vingroup (HoSE: VIC) and the government of Kinshasa, the capital of the Democratic Republic of the Congo (DRC), will jointly explore and develop a 6,300-hectare riverfront mega-urban project.

Real Estate - Sun, October 26, 2025 | 12:57 pm GMT+7

Vietnam’s Ministries of Foreign Affairs, Natural Resources & Environment, and Home Affairs have new heads

Vietnam’s Ministries of Foreign Affairs, Natural Resources & Environment, and Home Affairs have new heads

Le Hoai Trung was appointed on Saturday as Minister of Foreign Affairs, Tran Duc Thang as Minister of Natural Resources and Environment, and Do Thanh Binh as Minister of Home Affairs.

Politics - Sun, October 26, 2025 | 11:22 am GMT+7

Intel eyes shifting more production to Vietnam   

Intel eyes shifting more production to Vietnam  

U.S. chipmaker Intel plans to shift its assembly, packaging, and testing operations from its Costa Rica facility to potential markets such as Vietnam, said Kenneth Tse, general director of Intel Products Vietnam.

Industries - Sun, October 26, 2025 | 9:05 am GMT+7

Vietnam's securities regulator seeks to expand institutional market participation

Vietnam's securities regulator seeks to expand institutional market participation

The State Securities Commission of Vietnam (SSC) is preparing a comprehensive package of measures to allure more institutional investors to the stock market, which currently sees up to 85-90% of total transaction value come from retail investors.

Finance - Sun, October 26, 2025 | 8:00 am GMT+7

VAFIE, Nghe An province tax authority help businesses update new tax policies

VAFIE, Nghe An province tax authority help businesses update new tax policies

The Vietnam's Association of Foreign Invested Enterprises (VAFIE) and the Nghe An province Tax Department on Friday co-hosted a tax policy workshop titled “New tax policies impacting business operations and accounting standards under IFRS.”

Companies - Sat, October 25, 2025 | 7:28 pm GMT+7

Vietnam parliament okays appointing 2 new Deputy Prime Ministers

Vietnam parliament okays appointing 2 new Deputy Prime Ministers

Vietnam's legislature has approved Prime Minister Pham Minh Chinh's proposal to appoint Ho Quoc Dung, former Party chief of Gia Lai province, as Deputy Prime Minister, while Pham Thi Thanh Tra, a Party Central Committee member, became the country's first female Deputy Prime Minister.

Politics - Sat, October 25, 2025 | 6:32 pm GMT+7

Foxconn unit ShunYun injects extra $15 mln into northern Vietnam subsidiary

Foxconn unit ShunYun injects extra $15 mln into northern Vietnam subsidiary

ShunYun Technology Co., a subsidiary of Taiwanese electronics giant Foxconn, has announced an additional $15 million investment into its Vietnamese arm in the northern province of Bac Ninh, according to a filing with the Taiwan Stock Exchange.

Industries - Sat, October 25, 2025 | 4:57 pm GMT+7

DNP Water, Samsung E&A launch $69 mln inter-regional water project in Vietnam’s Mekong Delta

DNP Water, Samsung E&A launch $69 mln inter-regional water project in Vietnam’s Mekong Delta

A subsidiary of Vietnam’s water supplier DNP Water and South Korea’s Samsung E&A have broken ground on a VND1.82 trillion ($69.2 million) inter-regional raw water infrastructure project in the Mekong Delta, marking a major step toward improving the region’s water security.

Infrastructure - Sat, October 25, 2025 | 4:50 pm GMT+7

Vietnam’s bond market heats up as major corporates return

Vietnam’s bond market heats up as major corporates return

Vietnam’s corporate bond market is regaining momentum as large conglomerates join banks and brokerages in successful issuances.

Finance - Sat, October 25, 2025 | 9:33 am GMT+7

Decentralization and the potential for multi-center urban development in HCMC’s satellite areas

Decentralization and the potential for multi-center urban development in HCMC’s satellite areas

If managed well, urban decentralization and multi-center development can ease housing pressures in central HCMC and usher in a more balanced growth phase for the southern region's residential market, write Avison Young Vietnam analysts.

Real Estate - Sat, October 25, 2025 | 8:00 am GMT+7

Chinese firm proposes its 3rd waste-to-power plant in Vietnam

Chinese firm proposes its 3rd waste-to-power plant in Vietnam

China’s EverBright Environment has proposed investing about VND1.6 trillion ($60.82 million) in a waste-to-energy plant in the central province of Quang Tri.

Energy - Fri, October 24, 2025 | 8:45 pm GMT+7

Mega golf-commercial-urban complex proposed for southern Vietnam city Can Tho

Mega golf-commercial-urban complex proposed for southern Vietnam city Can Tho

Vietnam Royal Investment Group JSC has proposed developing a 766-hectare golf-service-commercial-urban complex in the Mekong Delta city of Can Tho.

Real Estate - Fri, October 24, 2025 | 4:31 pm GMT+7

Sumitomo makes first hydropower investment in Vietnam

Sumitomo makes first hydropower investment in Vietnam

Sumitomo Corporation has made its first hydropower investment in Vietnam by acquiring a 49% stake in Mekong Electric Power Engineering and Development JSC which owns the 48 MW Dak Di 1 & 2 run-of-river hydropower project in Danang city.

Energy - Fri, October 24, 2025 | 3:42 pm GMT+7

Investors urge Vietnam to fix legal hurdles to LNG power projects

Investors urge Vietnam to fix legal hurdles to LNG power projects

A group of investors in Vietnam’s gas-fired power sector has urged the country's parliament to address regulatory gaps that have stalled multi-billion-dollar LNG and domestic gas-fueled power projects, warning that delays could derail the country’s energy transition targets.

Energy - Fri, October 24, 2025 | 2:12 pm GMT+7