Vietnam stocks fall despite Fed's announcement of interest rate cut

Many investors expected the stock market to rebound in the morning session of September 18 after the news that the Fed would cut interest rates by 0.25%. However, the actual performance was not as expected because the possibility of this level being reflected in the market price had been reflected in the market price before.

The stock market's continuous corrections have caused many investors to suffer losses - Photo: QUANG DINH

On the morning of September 18, VN-Index closed the session down more than 3 points compared to the reference, with low liquidity, just over 12,600 billion VND.

Although the general index did not lose many points, many investors' accounts continued to decrease when all three stock exchanges recorded nearly 400 stocks decreasing in price, while the number of stocks increasing in price was only half, about more than 200 stocks.

Selling pressure spread across most sectors. Except for real estate, hardware and equipment, which remained green, the remaining sectors declined.

Of which, the banking group lost 0.64%, the securities group decreased 0.14%, extending the unending decline. The rare bright spots of these two groups came from SSI (+1.11%) and STB (+1.42%), helping to somewhat restrain the general decline of the industry.

On the contrary, the real estate group had a breakthrough when stocks in the Vingroup ecosystem continued to play a supporting role.

VIC increased by 2.38%, while VHM increased by 1.85%, thereby "shouldering" the whole industry in the context of a gloomy general market.

Notably, foreign investors have not cooled down their net selling momentum, with a total value of more than 600 billion VND. Selling pressure is concentrated on codes TCB, VIX, VCB, MWG, CII, PHS, SHS...

On the contrary, foreign investors maintained net buying of stocks VHM, VIC, STB, HVN, MSN, etc., contributing to creating highlights for the real estate group and some large-cap stocks.

The Vietnamese stock market's performance was negative despite the news that the US Federal Reserve (Fed) announced its first interest rate cut this year, by 25 basis points (0.25%).

Previously, after a two-day policy meeting (September 16 and 17), the Fed decided to reduce the reference interest rate, and this decision matched previous market forecasts.

In this meeting, only one governor disagreed with the general decision, that is Stephen Miran. Mr. Miran supported a 50 basis point (0.5%) interest rate cut.

Speaking to Tuoi Tre Online earlier, an Agribank Securities expert also said that the expectation of a 0.25% interest rate cut was partly reflected in the strong increase of Vietnamese stocks in August 2025, in addition to positive information such as the forecast of 8-10% GDP or the possibility of upgrading the market.

According to experts, the short-term positive impact of the Fed's interest rate cut will not be large, but in the medium and long term, the organization's easing policy will strengthen investor sentiment, supporting the upward trend. Some industry groups such as securities, import-export and logistics can clearly benefit.

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BINH KHANH

Source: https://tuoitre.vn/chung-khoan-viet-nam-giam-diem-du-fed-cong-bo-ha-lai-suat-20250918115322114.htm