Vietnam Daily Market Recap March 23

VN-Index falls 3.4% as selling broadens, index revisits December 2025 level

The VN-Index closed Monday at 1,591.17, down 56.64 points or 3.4%, revisiting levels last seen in December 2025. Market breadth remained sharply negative, with 33 advances, including two at their ceiling price, against 317 declines, including 38 at their floor price. HoSE matched value fell 3.9% to VND22.9tn (USD870mn), remaining below the 20-session average. The HNX-Index declined 2.4% to 237.54.

All 17 sectors declined. Retail Services, down 5.3%, Real Estate, down 5.0%, Oil & Gas, down 5.0%, and Chemicals, down 4.9%, led losses, followed by Industrial Goods & Services, down 4.3%, Telecoms, down 4.2%, Leisure & Entertainment, down 3.8%, Resources, down 3.8%, Construction & Materials, down 2.4%, Financial Services, down 2.5%, Banking, down 2.6%, Utilities, down 2.8%, and Food & Beverage, down 2.1%. Technology, down 2.2%, Healthcare, down 1.3%, and Insurance, down 1.1%, recorded more moderate declines. The breadth and scale of losses signaled sustained risk-off de-risking rather than sector rotation.

The VN30 fell 3.2% to 1,741.05, with three advances and 27 declines, including four at floor. No stocks hit its ceiling price within the basket, reflecting broad-based selling in large-cap names.

Foreign investors recorded net selling of VND338bn (USD13mn) on HoSE, with divergent flows across names. MWG posted the largest outflow at VND420.9bn (USD16mn), followed by HDB at VND253.3bn (USD10mn), VHM at VND184.8bn (USD7mn), VIC at VND154.9bn (USD6mn), and STB at VND105bn (USD4mn). On the buy side, MSN attracted VND204bn (USD8mn), followed by VNM at VND151.8bn (USD6mn), VCK at VND123.9bn (USD5mn), and FPT at VND111.8bn (USD4mn). The contained net figure masked elevated gross two-way activity.

Read the full report: HERE