The VN-Index suffered a sharp sell-off on Monday as foreign investors pulled out and panic selling hit major property and banking stocks, wiping out earlier gains and extending a two-day losing streak.
HO CHI MINH CITY (October 27, 2025) — Vietnam’s benchmark VN-Index plunged more than 30 points on Monday after a wave of heavy selling swept through large-cap stocks in the final minutes of trading, reversing early gains and signaling growing investor caution amid volatile market sentiment.
The index briefly approached the 1,700-point mark in morning trading, buoyed by optimism across the board. But that rally quickly unraveled as investors rushed to offload major blue chips in the real estate and banking sectors, dragging the VN-Index down 1.8% to close at 1,652 points, marking its second consecutive decline.
Nearly 180 stocks ended in the red on the Ho Chi Minh Stock Exchange, with the large-cap basket dominated by sell-offs. Vinhomes (VHM) and Vincom Retail (VRE) — both part of the Vingroup conglomerate — hit their floor pricesand saw no buyers by the close. Smaller developers such as DIG and CII also plunged to their daily limits, while mid-cap peers like Novaland (NVL), Ha Do (HDG), Nam Long (NLG), and Khang Dien (KDH) fell between 3–5%.
The banking sector, a key market driver, also faltered. HDBank (HDB), VPBank (VPB), Techcombank (TCB), and MB Bank (MBB) all reversed early gains to close down 3–5%, while industry leaders Vietcombank (VCB), BIDV (BID), and VietinBank (CTG) slipped around 1–2%. Sacombank (STB) was a rare outlier, inching up 0.2% to VND 54,600.
Brokerage stocks showed mixed performance — SSI, HCM, and VNDIRECT declined, while ORS, BSI, and VIXmanaged to hold on to gains. Notably, ORS hit its ceiling at VND 15,500 with surging liquidity.
Steelmakers offered a rare bright spot amid the sell-off. Except for Hoa Phat (HPG), which edged slightly lower, other steel stocks such as Hoa Sen (HSG), Nam Kim (NKG), and TLH rose between 1–4%.
Despite the sharp drop, market liquidity improved, suggesting strong trading activity. The total transaction value on the Ho Chi Minh bourse climbed to VND 30.7 trillion (US$1.2 billion), with large-cap stocks contributing more than half. SSI Securities led in matched orders at over VND 2.5 trillion, followed by VIX, SHB, GEX, FPT, and MBB, each exceeding VND 1 trillion.
Foreign investors continued to offload Vietnamese equities, selling VND 4.3 trillion worth of shares while buying only VND 3.2 trillion. MBB suffered the heaviest net outflow with 18 million shares sold, followed by SSI, SHB, and PDR.
According to analysts at MB Securities, the market is currently moving sideways, with a notable divergence between the VN-Index and individual stock performance — a sign that gains in the index are not broadly supported.
Meanwhile, Yuanta Securities warned that the short-term trend remains bearish, as investor sentiment stays cautious despite occasional rebounds. The firm advised against chasing rallies and suggested maintaining a stock allocation of only 20–40% of portfolios.
Vietnam’s stock market — one of Asia’s fastest-growing over the past decade — has been struggling to regain momentum after a strong first half of 2025. Rising global uncertainty, profit-taking, and persistent foreign outflows have weighed on sentiment, even as Vietnam’s economy continues to post resilient growth above 5%.
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Source: Vietnam Insider