Vietnam Daily Market Recap March 02, 2026 – Even Note: The US-Iran conflict

Stocks plunge despite O&G gains

The VN-Index opened lower on Monday and closed down 1.8% at 1,846. Market liquidity soared to its highest in four months, with the total trading value rising by 57.3% DoD to VND47.2tn (USD1.8bn). The HNX Index traded in negative territory throughout the session, falling 1.5% to close at 259.

BSR (+6.8%) surged today, as the oil and gas sector attracted massive cash flow following a 10% spike in WTI crude prices to nearly $70/barrel amid conflict in the Middle East. The stock hit its ceiling along with peers PVD, PLX, and OIL, driven by fears of supply disruptions at the Strait of Hormuz after the US and Israeli attacks on Iran. We will soon release analysis of the impact of this geopolitical instability on the Vietnamese economy and markets.

Telecommunications (-6.0%), Real Estate (-3.5%), and Banks (-3.2%) all declined today. Conversely, Oil & Gas (+7.5%), Chemicals (+5.8%), and Utilities (+4.5%) increased.

The top underperformers today were VIC (-2.7%), VHM (-6.9%), and BID (-5.6%), while GAS (+6.9%), GVR (+7.0%), and BSR (+6.8%) enjoyed positive gains.

Foreign investors net bought today, totaling VND741.3bn (USD28.2mn), focusing on HPG (VND383.8bn, USD14.5mn), SSI (VND211.6bn, USD8mn), and MWG (VND204.8bn, USD7.8mn). Conversely, foreign net selling were mainly observed in VCB (VND193bn, USD7.3mn), POW (VND184.2bn, USD7mn), and CTG (VND108.6bn, USD4.1mn)

Read the full report: HERE