Vietnam’s stock market extended its correction on the latest trading session, with the VN-Index closing down 13.05 points at around 1,729.8, as selling pressure persisted in large-cap stocks—most notably those linked to Phạm Nhật Vượng.
As many analysts had anticipated after the index failed to break above the 1,800-point threshold, market sentiment remained fragile throughout the day. During the session, the VN-Index at one point plunged to around 1,690 points, equivalent to a loss of 50–60 points. Although buying demand emerged toward the close to limit losses, the index still ended firmly in negative territory.
The primary drag once again came from the Vingroup ecosystem. Shares of Vingroup (VIC), Vinhomes (VHM), and Vinpearl (VPL) collectively shaved approximately 7.7 points off the VN-Index. Specifically, VIC fell 1.9%, VHM declined 3.76%, while VPL dropped to the floor price, marking one of the most severe moves within the group.
The sharp decline in these stocks also had a direct impact on the personal wealth of Phạm Nhật Vượng. According to Forbes data updated at 3:30 p.m., his net worth fell by an estimated USD 2.7 billion in a single session, bringing total assets to USD 27.2 billion and placing him 83rd on the global rich list.
Foreign investors added to the pressure by accelerating net selling, particularly in Vingroup-related stocks. Net foreign outflows reached more than VND 1,149 billion, with VIC seeing net sales of VND 531 billion, VHM VND 360 billion, and Vincom Retail (VRE) VND 121 billion. This sustained foreign selling further dampened market confidence.
In contrast, a small number of stocks moved against the broader downtrend. Sacombank (STB) and Hoa Phat Group (HPG) both recorded gains, offering limited support to the index and preventing a deeper close.
Looking ahead, many market observers expect downward pressure to persist in the near term as investors reassess valuations after the recent rally. Analysts are advising market participants to reduce leverage, prioritize risk management, and avoid premature bottom-fishing, instead waiting for clearer signs of price stabilization before deploying new capital.
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Source: Vietnam Insider