Vietnam Daily Market Recap Feb 25 – Econ Note

Stocks edge lower, dragged down by tech  

The VN-Index opened lower on Wednesday, spent most of the session in negative territory, and closed down 0.4% at 1,860.9. Market liquidity advanced, with total trading value increasing 17.0% DoD to VND38.4tn (USD1.5bn). On the other hand, the HNX Index traded in positive territory throughout the session, rising 0.2% to close at 263.2.

Today’s top declining sectors were Technology (-3.2%), Real Estate (-2.2%), and Travel & Leisure (-2.0%). In contrast, Chemicals (+4.1%), Basic Resources (+3.2%), and Oil & Gas (+2.4%) gained.

FPT (-3.7%) plunged today, with foreign investors net selling the stock for a third consecutive days for VND4.0tn (USD155mn) after a report from Citrini Research sparked a global sell-off in technology and software stocks by highlighting the disruptive threat of AI on traditional programming and coding business models. This negative sentiment rippled from international markets to Vietnam, hitting FPT particularly hard as investors grew concerned that advancements in AI-driven coding tools could eventually diminish the core outsourcing advantages of major IT service providers.

VIC (-3.0%), VHM (-3.6%), and FPT (-3.7%) were top laggards today, while GVR (+7.0%), HPG (+3.5%), and BSR (+4.8%) were the top gainers.

Foreign investors net sold today, totaling VND1.1tn (USD40.6mn), focusing on FPT (VND2.3tn, USD89.4mn), VCB (VND141bn, USD5.4mn), and DGW (VND104bn, USD4.0mn). Conversely, foreign net buying was mainly observed in HPG (VND1.8tn, USD67.3mn), GVR (VND189bn, USD7.2mn), and BSR (VND132bn, USD5.1mn).

Read the full report: HERE