Vingroup group pulls stocks down deeply

The entire bluechip group closed the session in red, with VIC and VHM both down more than 5%, causing the VN-Index to drop more than 24 points.

Today's stock market experienced two opposite extremes between the morning and afternoon sessions. VN-Index opened near the reference price, remaining sideways until before lunch break. The general market sentiment remained cautious as the HoSE index traded around 1,120 points. The tug-of-war within a narrow range occurred with most stocks on the floor.

However, in the afternoon session, selling pressure suddenly increased sharply. Information about a law firm in the US posting information looking for investors and customers having problems with VinFast caused selling pressure to increase rapidly on all three Vingroup group codes. VIC, VHM and VRE fell deeply, creating a negative effect on the rest.

Other market pillars also extended their red streaks. Selling pressure spread to the mid-cap group. VN-Index fell more than 20 points when it entered the second half of the afternoon session. The market had a slight recovery around 2:30 p.m., but selling pressure in the ATC session kept the decline going.

At the end of the session, VN-Index fell 24.34 points (2.16%) to close to 1,100 points. VN30-Index fell more sharply with 29.07 points (2.57%) to 1,103.53 points. On the Hanoi Stock Exchange, HNX-Index and UPCOM-Index both fell more than 1%.

Total market liquidity reached over VND28,200 billion, with HoSE liquidity reaching over VND24,300 billion, an increase of over VND10,000 billion compared to the previous session. Foreign investors net sold nearly VND750 billion today, the highest since November 9.

Red dominated the market, with 437 stocks falling compared to only 118 stocks rising on the HoSE floor. In the VN30 group alone, all 30 bluechips closed in red.

Leading the decline today is Vingroup. These stocks are the largest in terms of decline among bluechips and their impact on the market. In VN30, VIC is the stock with the biggest decline of 6.4%, VHM is down 5.3%, and VRE is down 4.4%.

Bank stocks are also in a similar state.SHB , VPB decreased by over 3%, TPB lost 2.9%, STB, VCB, ACB, HDB, VIB were lower than the reference by over 2%.

In the mid-cap group, red spread across the board. Notable groups such as real estate, securities, and chemicals all fell sharply. Oil and gas stocks also plunged as oil prices were in the red in recent sessions.

The top 5 stocks in terms of trading value on the HoSE are HPG (VND 1,034 billion), VIX (VND 1,006 billion), SSI, DIG and PDR, all recording liquidity of more than VND 900 billion.

Minh Son

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