HÀ NỘI — The Vietnamese stock market continued its downward trajectory on Friday, with the VN-Index sliding closer to the 1,210-point threshold amid heightened selling pressure and persistent foreign outflows.

At the close of trading on the Hồ Chí Minh Stock Exchange (HoSE), the VN-Index fell by 19.17 points, or 1.56 per cent, to end at 1,210.67 points.

Market breadth was overwhelmingly negative, with only 71 gainers compared to 275 losers. Market liquidity rose 6.5 per cent from the previous session, reaching approximately VNĐ42.2 trillion (US$1.58 billion).

The VN30-Index, which tracks the 30 largest listed companies by market capitalisation, edged down 2.66 points, or 0.21 per cent, to 1,280.52 points. Within the VN30 basket, nine stocks advanced, 20 declined, and one remained unchanged.

Leading the decline were stocks in the manufacturing and construction sectors. PetroVietnam Gas Joint Stock Corporation (GAS) recorded the sharpest drop, plunging 6.94 per cent and erasing more than two points from the VN-Index. Vietnam Rubber Group (GVR) also hit the floor, shedding 6.9 per cent.

Several large-cap stocks helped cushion the fall. Vingroup Joint Stock Company (VIC) rose by 3.74 per cent, contributing over two points to the VN-Index. Fortune Vietnam Joint Stock Commercial Bank (LPB) hit the ceiling, jumping 6.98 per cent and adding nearly 1.8 points to the benchmark.

According to analysts at Saigon – Hanoi Securities (SHS): “In our previous outlook, we expected the market to experience reduced selling pressure and greater divergence upon revisiting the 1,200-point level, a key zone corresponding to the 2018 peak and the lowest level seen so far in 2024. In reality, the VN-Index dipped sharply to around 1,160 points — the April low — before rebounding and maintaining its long-term upward trend since April 2020.”

“In the short term, the market has been rattled by an unexpected shock from the newly imposed US tariffs — far exceeding general expectations. This has triggered unprecedented declines and record-high trading volume, potentially leading to further forced margin calls in the coming sessions.”

“With current developments, we plan to re-evaluate fundamental and macroeconomic indicators in our April 2025 strategy report, to be released next week. We will also provide updated commentary on the tariff issue, including detailed calculations and new perspectives.”

“Investors should maintain balanced portfolios and prioritise risk management in the face of ongoing volatility. Investment should be focused on fundamentally sound stocks, especially industry leaders in strategic sectors with strong long-term growth potential.”

On the Hà Nội Stock Exchange (HNX), the HNX-Index also fell sharply by 3.98 points, or 1.8 per cent, to close at 216.97 points.

Foreign investors continued their aggressive sell-off, posting a record net sell value of more than VNĐ2.8 trillion on the HoSE alone. — VNS