Vietnam stock market plunge sees VN30 stocks drop 25‑40%

Vietnam’s equity market has experienced a sharp decline, with many shares falling 25% to 40% from recent highs. The VN30 index, which tracks the country’s largest and most liquid stocks, is down in that range, and the VN‑Index is hovering around the technical support level of 1,680 points.

The jewelry maker PNJ saw its price halve, sliding from about 63,000 VND per share at the end of June to roughly 31,000 VND by the end of July. Other large‑cap names such as Vietcombank, Hoà Phát, FPT, Khang Điện and Masan have also recorded similar drops. Market liquidity remains thin, prompting investors to tread carefully while some view the deep discounts as a buying opportunity. Recent government reforms under Resolution 19, aimed at simplifying administrative procedures and improving access to capital, are being cited as factors that could restore confidence.

Analysts note that the market’s ability to attract “bottom‑catching” money will determine whether prices stabilize or continue to slide.