Vietnam stock market sees PNJ price drop and major share transfers

The Vietnamese stock market has experienced a period of adjustment. Phu Nhuan Jewelry Joint Stock Company (PNJ) issued an explanation to the Ho Chi Minh City Stock Exchange regarding its stock hitting the floor price for five consecutive sessions. PNJ attributed the decline to general market trends, cautious investor sentiment, and margin adjustments by several securities firms. Additionally, the company noted that a high frequency of corporate disclosures in September may have impacted investor psychology. PNJ also revised its 2026 consolidated business plan to a projected loss of over 6,200 billion VND, citing unexpected issues in diamond operations and changes in product exchange methods.

In other market activities, several M&A and share transfer transactions occurred. Thien Hai Investment and Trading Co., Ltd. completed the sale of shares in Merufa JSC, ceasing to be a major shareholder. VietinBank Capital sold 7.25 million shares of Petrosetco. Furthermore, Masan High-Tech Materials' parent company, Masan Vision Co., Ltd., registered to transfer up to 10% of its shares, with 4.99% earmarked for The Elmet Group Co. via a prior agreement and the remainder for institutional investors.