Vingroup shares drag VN-Index lower as foreign investors sell

On June 17 the VN-Index closed at 1,806.2 points, a decline driven mainly by shares of Vingroup’s ecosystem. VIC fell 1.03%, VHM slipped 1.1% and VRE also turned red, making Vingroup the biggest drag on the market. Foreign investors reversed a previous net‑buy stance and sold a net 3.166 trillion VND, concentrating sales on VIC and other large caps such as FPT, TCB, VCB and VHM. While the broader market saw many gains – VietJet (VJC) led the rally and banks posted widespread buying – the selling pressure from foreign funds outweighed the buying, preventing the index from staying in the green zone.

Separately, the State Bank of Vietnam is consulting on raising the ceiling for short‑term funding used for medium‑ and long‑term loans from 30% to 40%. Analysts say the move could ease liquidity strain for smaller banks and improve investor sentiment, potentially supporting bank‑related stocks.

The next day, after the U.S. Federal Reserve left rates unchanged, the VN-Index rose more than 24 points, showing that domestic market sentiment can rebound quickly despite heavy red pressure.