Vietnam's VN-Index Slips Below 1,800 as Trading Volume Plummets

Vietnamese stock indices closed lower on Thursday, with the benchmark VN-Index failing to maintain the psychological 1,800-point threshold amid a sharp contraction in market liquidity. Trading activity weakened significantly, reflecting a cautious investor stance as the market continues to oscillate.

On the Hochiminh Stock Exchange (HoSE), the VN-Index concluded the session at 1,798.6 points, a decline of 5.1 points, or 0.28 per cent, after swinging below the 1,800 mark during the day. Similarly, the HNX-Index on the Hanoi Stock Exchange (HNX) fell 1.06 points, or 0.35 per cent, to finish at 300 points.

A key feature of the session was the dramatic drop in liquidity. Combined trading value on both exchanges registered at just VNĐ11 trillion (US$418.7 million), a decrease of nearly 50 per cent compared to the previous session.

Selling pressure was more pronounced in the large-cap segment. The VN30 basket, which tracks the 30 largest stocks on HoSE, slid 13.69 points, or 0.7 per cent, to 1,947.28 points. Decliners outnumbered gainers within the basket, with 19 stocks losing ground while only eight advanced.

Several blue-chip stocks weighed on the market's performance. Real estate developer Vinhomes (VHM) was the single largest drag on the VN-Index, pulling it down by nearly 2 points. Other significant decliners included Vietjet Aviation (VJC), Hoa Phat Group (HPG), Mobile World Investment Corporation (MWG), FPT Corporation (FPT), BIDV (BID), and LPBank (LPB). Shares of Mobile World (MWG) specifically dipped 1.66 per cent.

Conversely, a few stocks cushioned the market's fall. Vietnam Rubber Group (GVR) was the standout supporter, contributing more than 1.2 points to the VN-Index. Other stocks providing support included Kinh Bac City Group (KBC), Sabeco (SAB), Sacombank (STB), Baoviet Holdings (BVH), and Thanh Thanh Cong - Bien Hoa (SBT).

The banking sector exhibited strong divergence. Sacombank (STB) rose nearly 1 per cent, MBBank (MBB) gained 0.2 per cent, and Vietnam International Commercial Joint Stock Bank (VIB) added 0.31 per cent. However, many of their peers, including HDBank (HDB), Sahabank (SHB), Techcombank (TCB), Vietinbank (CTG), BID, Eximbank (EIB), and VPBank (VPB), registered losses ranging from 0.3 to 1.2 per cent.

Adding to the downward pressure, foreign investors extended their selling streak. They were net sellers of more than VNĐ504.5 billion on HoSE and VNĐ4.52 billion on HNX.