Vietnam Daily Market Recap May 19, 2025

Stocks slump, led by tech, telecoms

The VN-Index dropped early in the session today, rebounded to around 1,302 and closed in the red, down 0.4% at 1296.3. However, market liquidity today increased 2.9% DoD to VND21.4tn (USD825.7mn). The HNX Index followed a similar pattern, declining 0.7% to close at 217.2.

Most sectors were in the red today, led by Technology (-2.2%), Telecommunication (-2.2%), Financial Services (-1.7%) and Oil & Gas (-1.6%). In contrast, sectors such as Real Estate (+2.3%) and Construction & Materials (+0.2%) increased.

VinSpeed High-Speed Railway Investment and Development JSC — part of the VIC (+7.0%) ecosystem and a company established just over 10 days ago — has proposed investing in the North–South high-speed railway project, with a total estimated cost of around USD67bn, equivalent to ~14% of Vietnam’s GDP at the end of 2024. The company aims to commence construction before December 2026 and fully operate the entire line by December 2030.

KBC (+3.5%), in partnership with the Trump Organization, is exploring plans to develop a Trump Tower in Ho Chi Minh City’s Thu Thiem area. Eric Trump is expected to visit this week to inspect the site and meet with local officials. This follows a recently approved USD1.5bn urban and tourism complex in Hung Yen, also involving KBC and the Trump Organization, as Vietnam seeks to strengthen US ties amid ongoing trade negotiations.

Top performers today included VIC (+7.0%), GEE (+7.0%) and VHM (+1.4%), while top laggards included VPL (-2.8%), FPT (-2.3%) and VCB (-0.9%).

Foreign investors net sold today, with a total net selling value of VND475bn (USD18.3mn). Foreigners sold VHM (VND938bn, USD36.2mn), GEX (VND125.8bn, USD4.9mn), and MSN (VND115bn, USD4.4mn). On the contrary, buying momentum focused on VIC (VND173.9bn, USD6.7mn), MBB (VND148.4bn, USD5.7mn), and CTG (VND83.8bn, USD3.2mn).

Read the full report: HERE