VN-Index drops to 20-month low amid global downturn

By Tri Duc

Thu, October 6, 2022 | 6:05 pm GMT+7

Vietnam’s benchmark VN-Index closed Thursday at 1,074.52, down 29.74 points or 2.69% to a 20-month low, influenced by the global market downturn.

VN-Index drops 2.69% to 1,074.52 points on October 6, 2022. Photo courtesy of The Investor/Trong Hieu.

The index continued its downtrend after a Wednesday rebound. In total, 429 stocks lost, with 58 hitting their floor prices, and just 60 recorded gains. Twenty-eight of 30 bluechip stocks dropped Thursday.

Trading activities were moderate with 545.82 million shares worth VND11.12 trillion ($465.7 million) changing hands. Foreigners were net sellers on the Ho Chi Minh City Stock Exchange (HoSE) with a net value of VND131.66 billion ($5.51 million)

On Wednesday, the State Securities Commission, the stock market watchdog, warned against risks of trading via unlicensed applications like Passion Invest, Finhay, Tikop, Infina and Savenow, affecting investor sentiment.

Brokerage VNDirect said in a new report that possible interest rate hikes at banks in Vietnam and appreciation of the U.S. dollar versus the Vietnamese dong due to the U.S. Federal Reserve's interest rate hikes were two challenges facing the stock market.

It predicted that the VN-Index would move between 1,050 and 1,150 points this month and advised investors to exercise caution.

The Dow Jones, S&P 500 and Nasdaq went down Wednesday by 0.14%, 0.2% and 0.25%, respectively.

Tags:

Vietnam

VN Index

stock market

securities

HoSE

VnDirect

Comments (0)

Latest|Most liked

Tags:

Maintaining market status upgrade a bigger challenge: official

Vietnam's stock market status will be upgraded by FTSE Russell from "frontier" to "secondary emerging" from September 21 next year, but continued reform is critical as the bigger challenge is to maintain the new classification, said a market watchdog official.

Finance - Sat, October 18, 2025 | 1:30 pm GMT+7

HCMC partners with Nasdaq to develop int’l financial center

The Finance Department of Vietnam’s southern metropolis Ho Chi Minh City has signed an MoU with the U.S.-based stock exchange Nasdaq on the development of an international financial center (IFC).

Top News - Sat, October 18, 2025 | 11:56 am GMT+7

Vingroup plans $325 mln issuance of international bonds

Vietnam's leading private conglomerate Vingroup (HoSE: VIC) has announced a board of directors resolution to issue $325 million worth of international bonds, with a five-year term and a yield of 5.5% per year.

Companies - Sat, October 18, 2025 | 10:26 am GMT+7

Vietnam raises personal income tax deductions by over 40%

The Standing Committee of Vietnam’s National Assembly, the country's legislature, on Friday approved a resolution on adjusting personal income tax (PIT) deductions, marking a significant increase of over 40% from current levels.

Economy - Sat, October 18, 2025 | 9:11 am GMT+7

EVN subsidiary spreads the spirit of solidarity, compassion

The employees of National Power Transmission Corporation (EVNNPT) came together in an inspiring display of unity and compassion in October, each donating one day’s salary to support and express solidarity with the people of Cuba - a nation that has long shared a special friendship with Vietnam.

Companies - Sat, October 18, 2025 | 9:00 am GMT+7

Property fever prompts tighter inspection in central Vietnam's economic hub Danang

Chairman of Danang city People’s Committee, Pham Duc An, has ordered a comprehensive inspection and audit of land valuation and auction activities to prevent and address market manipulation that could destabilize the local property market.

Real Estate - Sat, October 18, 2025 | 8:00 am GMT+7

Vietnam mulls opening door for private investment in small modular reactors

Vietnam’s Ministry of Industry and Trade has drafted a parliamentary resolution that, for the first time, would allow private companies to participate in the development of small modular nuclear reactors (SMRs).

Energy - Fri, October 17, 2025 | 4:37 pm GMT+7

Kido seeks buyer for remaining 49% stake in frozen food affiliate

Kido Group (HoSE: KDC), a leading food company in Vietnam, has approved a plan to divest the firm's remaining 49% stake in its affiliate Kido Frozen Food JSC (Kido Foods).

Companies - Fri, October 17, 2025 | 4:25 pm GMT+7

Le Ngoc Quang appointed Danang city's Party chief

Le Ngoc Quang, a Party Central Committee member and Party chief of Quang Tri province, has been appointed Party chief of Danang for the 2025-2030 term - the highest position in the city, central Vietnam's economic hub.

Politics - Fri, October 17, 2025 | 4:17 pm GMT+7

T&T Group seeks to reshape north-central Vietnam’s urban landscape with major projects

Multi-sector conglomerate T&T Group is developing a model eco-urban complex in Ha Tinh province and plans to build a massive 236-hectare urban area in neighboring Nghe An, with an aim to reshape north-central Vietnam's urban landscape.

Investing - Fri, October 17, 2025 | 2:44 pm GMT+7

Toyota plans $359 mln plant expansion in northern Vietnam

Toyota Motor Vietnam (TMV) plans to invest about VND9.46 trillion ($359.2 million) in the first phase of its plant expansion project in Phu Tho province.

Investing - Fri, October 17, 2025 | 2:09 pm GMT+7

PVI Insurance sees 9-month profit before tax more than doubling

PVI Insurance has reaffirmed its position as the No. 1 non-life insurer in Vietnam, with total revenue increasing nearly 1.4 times in the first nine months of 2025 and pre-tax profit more than doubling year-on-year - surpassing its full-year targets for both revenue and profit.

Companies - Fri, October 17, 2025 | 9:08 am GMT+7