Vietnam's Stock Market Declines as Real Estate and Banks Drop
Vietnam's stock market experienced a decline on Tuesday, with both the VN-Index and HNX-Index closing lower. The VN-Index fell by 10.2 points, or 0.6 per cent, to 1,685.3 points, while the HNX-Index ended at 272.87 points, down 1.82 points, or 0.66 per cent.
Shares of MBBank (MBB) dropped over 1.8 per cent, contributing to the overall decline. The real estate industry also saw significant drops, with large-cap stocks like DIC Group (DIG), Dat Xanh Group (DXG), CEO Group (CEO), Kinh Bac City Development Holding Corporation (KBC), and Novaland (NVL) experiencing substantial losses. Despite these declines, leading companies such as Vinhomes (VHM), Vingroup (VIC), and Vincom Retail (VRE) held steady, preventing a sharper decline in the VN-Index. Technology, consumer, and materials stocks emerged as rare bright spots, with Vinpearl JSC (VPL) surging to its ceiling price, Mobile World Investment Corporation (MWG) increasing by 0.52 per cent, and FPT Corporation (FPT) ending flat. Foreign investors extended their heavy net selling, marking the tenth consecutive session of capital withdrawals from the Vietnamese market, with over VNĐ1.3 trillion net sold on the HoSE and VNĐ36.7 billion on HNX. Many major banking players also experienced declines, including Sacombank (STB), VPBank (VPB), Vietinbank (CTG), Techcombank (TCB), and HDBank (HDB). Analysts suggest that the decline represents a technical adjustment rather than a reversal of the upward trend, with domestic capital rotation and upcoming earnings announcements expected to support the index in the coming sessions.
The VN-Index and HNX-Index closed lower on Tuesday, with the VN-Index at 1,685.3 points and the HNX-Index at 272.87 points. Despite significant declines in the banking and real estate sectors, leading companies held steady, preventing a sharper decline. Foreign investors continued to sell, marking the tenth consecutive session of capital withdrawals. Analysts remain optimistic about the market's prospects, expecting domestic capital rotation and earnings announcements to support the index in the coming sessions.
