Vingroup Stocks Drag Vietnam's VN-Index Below 1,800 in Late Sell-Off

Vietnam’s benchmark stock index reversed course in the final minutes of trading on Friday, as a sharp sell-off in Vingroup-related shares erased the day's gains. The late downturn marked the second consecutive losing session for the VN-Index, pulling it back below the key 1,800-point level.

The VN-Index on the Ho Chi Minh Stock Exchange (HoSE) spent most of the session in positive territory, at one point climbing nearly 15 points to approach 1,814. However, a wave of selling pressure toward the close caused the market to lose momentum, ultimately falling nearly seven points, or 0.39%, to finish at 1,791.65 points.

Market breadth was negative, with 177 stocks declining on the southern bourse versus 118 gainers. Liquidity improved from the prior session, as trading value on HoSE exceeded VNĐ16.3 trillion (US$621 million), an increase of approximately VNĐ6.2 trillion from the previous day.

The decline was primarily driven by heavy losses among stocks within the Vingroup ecosystem. Shares of property developer Vinhomes (VHM) dropped over 4 per cent, while parent Vingroup (VIC), Vinpearl (VPL), and Vincom Retail (VRE) also recorded sharp losses. Collectively, these stocks erased over seven points from the benchmark. Negative sentiment extended to other real estate firms, with Nam Long Group (NLG) falling 2.12%, Dat Xanh Group (DXG) down 1.16%, and Khang Dien House (KDH) losing 1.07%. Phat Dat Real Estate Development Corporation (PDR), Kinh Bac City Group (KBC), and DIC Group (DIG) each declined by nearly 1 per cent.

The VN30-Index, tracking the 30 largest stocks, decreased by nearly 3 points, or 0.15%, to 1,944.36 points. In contrast, the banking sector provided support for the market. TPBank (TPB) shares rose 3.15%, MSB gained 2.74%, Techcombank (TCB) advanced 1.3%, and VIB added 1.25%.

Foreign investors extended their selling streak on HoSE to a fifth consecutive session, with net sales totaling more than VNĐ491 billion. The most heavily sold stocks included VIC, with a net selling value of nearly VNĐ89 billion, followed by VHM at over VNĐ77 billion and MBBank (MBB) at nearly VNĐ58.5 billion.

On the Hanoi Stock Exchange (HNX), the HNX-Index moved against the trend, adding 0.8% to close at 302.49 points.