Vietnam stock market declines as VN-Index falls for third consecutive session

The Vietnamese stock market concluded September with the VN-Index falling for a third consecutive session, closing at 1,768.62 points, a decrease of 9.11 points (0.51%). Despite the recent upgrade of the Vietnamese market to emerging market secondary status by FTSE Russell, the index has continued to decline, losing over 47 points since the upgrade on September 18.

Selling pressure was driven by large-cap stocks, particularly in the real estate and petroleum sectors. Notable declines were seen in VHM, VIC, and GAS. Foreign investors continued a significant selling streak, with net selling on the HOSE reaching approximately 888 to 910 billion VND, heavily targeting VHM, TCB, and VIC. While liquidity on the HOSE increased by over 23% compared to the previous session, the market remains cautious due to high interest rates and a lack of leading sectors.

In other markets, SJC gold prices rose sharply by 1.6 million VND per tael to reach the 141.1 - 144.1 million VND/tael range. Meanwhile, the MXV-Index hit a one-month low as energy commodities, including Brent and WTI crude oil, faced downward pressure due to recovering Middle East supply and potential US strategic reserve releases.