Vietnam Daily Market Recap March 20

VN-Index falls 3.0% as selling pressure broadens across sectors

The VN-Index closed Friday at 1,647.81, down 51.32 points or 3.0%. Market breadth turned sharply negative, with 95 advancers, including four at their ceiling price, vs 241 decliners, including 10 at their floor price. HoSE matched value rose 18.9% to VND29.8tn (USD1.1bn) but stayed below the 20-session average. The HNX-Index fell 0.9% to 243.46. For the week, the VN-Index fell 48.23 points or 2.9%, retreating to levels last seen in December 2025.

Sixteen of 17 sectors declined. Real Estate, down 4.6%, and Oil & Gas, down 5.3%, led losses, followed by Chemicals, down 4.7%, Technology, down 2.4%, Industrial Goods & Services, down 2.4%, Food & Beverage, down 2.7%, Financial Services, down 2.1%, Banking, down 2.2%, and Utilities, down 2.3%. Telecoms rose 0.7%, the only sector to advance. The broad and synchronized decline signals risk-off sentiment rather than sector rotation.

The VN30 fell 3.0% to 1,797.99, with one advancer and 27 decliners, including three at floor. No constituents hit ceiling, reflecting persistent selling in large caps.

Foreign investors extended net selling to VND1.8tn (USD70mn) on HoSE. HPG saw the largest net outflow at VND667.5bn (USD25mn), followed by VIC at VND631.7bn (USD24mn), DGC at VND207.9bn (USD8mn), KBC at VND188.9bn (USD7mn), and FPT at VND174.5bn (USD7mn). Among net bought tickers, MCH led with VND670.8bn (USD25mn), followed by VCK at VND298.5bn (USD11mn), and BSR at VND189.2bn (USD7mn). The divergence reflects a rebalancing by VanEck Vietnam ETF, adding MCH and VCK while trimming HPG and other large caps.

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