Vietnam Daily Market Recap Mar 6

Stocks sink, led by financial services, utilities

The VN-Index opened lower on Friday and closed down 2.3% at 1767.8. Market liquidity decreased, with total trading value down 4.9% DoD to VND33.7tn (USD1.3bn). Similarly, the HNX Index traded negatively throughout the session, slipping 1.5% to close at 253.6.

For the week, the VN-Index declined 6.0% amid heightened tensions in the US-Israel-Iran conflict, sparking fears of global supply chain disruptions. This led to a “risk-off” sentiment, driving heavy foreign selling and significant declines across sectors such as Banking and Real Estate. However, the Oil & Gas sector performed well as crude prices surged, though it couldn’t counter the overall market downturn.

FPT (-3.2%) declined today, hitting a two-year low of VND81,600 after a five-session losing streak and heavy foreign net selling of nearly VND600bn (USD22.8mn). Foreign investors have offloaded ~VND8.5tn (USD3.2bn) year-to-date, leaving a record “room” gap of 250 million shares amid concerns that AI advancements could disrupt traditional software services. Despite the selloff, management remains optimistic, noting that AI and data analytics revenue grew 35% to USD100mn in 2025, with plans to increase AI R&D investment by 10% in 2026.

Among sectors, Financial Services (-4.4%), Telecommunications (-4.2%), and Utilities (-3.8%) led laggards today while Oil & Gas (+1.3%) and Basic Resources (+0.1%) led gainers.

The top underperformers today were VIC (-5.0%), GAS (-6.4%) and GVR (-6.9%), while BSR (+4.0%), VPL (+1.6%) and DCM (+3.8%) were the top gainers.

Foreign investors net sold today, totaling VND1.3tn (USD48.9mn), focusing on FPT (VND577.9bn, USD21.9mn), SSI (VND184bn, USD7mn), and VIC (VND172.8bn, USD6.5mn). Conversely, foreign net buying was mainly observed in BSR (VND160.8bn, USD6.1mn), DCM (VND117.7bn, USD4.5mn), and MWG (VND86bn, USD3.3mn).

Read the full report: HERE