Investors dump stocks, VN-Index drops more than 82 points, plunges to 1-year 'bottom'

Vietnamese stocks "fell freely" right from the opening of the trading session on April 3 due to strong selling pressure across the board. Red and blue covered the entire board, with hundreds of stocks lying on the floor, completely overwhelming the increasing stocks.

A sharp decline in the VN-Index wiped out the gains of more than two months of price increases. The main index VN-Index closed the morning session down more than 82.28 points (6.24%) to 1,235 points, the lowest since late January 2024.

VN30-Index also recorded a decrease of 85.02 points (6.17%), down to 1,291 points.

The whole market had 505 stocks decrease in the morning, liquidity exceeded 31,000 billion VND.

The stock market is red today. (Illustration photo).

All major industry groups in the market such as banking, real estate, consumer goods, raw materials... have a series of stocks hitting the floor: DXG, DIG, HDC, TCH, PDR, KBC, IDC, SZC, BCM; MSB, TPB, CTG, SHB ; HSG, NKG, GVR...

Import-export stocks such as textiles, footwear... also hit the floor: VGT, TCM, GIL, TNG...

Commenting on this development, Mr. Bui Van Huy, Director of Research - Investment of FIDT JSC, Chairman of 1IB JSC, said that the VN-Index's plunge has triggered a wave of margin calls across the board. The margin/capitalization ratio of the HOSE and HNX floors has reached a historical peak, a strong correction has led to the phenomenon of "margin calls", thereby putting pressure back on the market, easily causing the market to fall further.

Not only in Vietnam, but global stocks plunged after President Donald Trump announced reciprocal tariffs on about 60 economies on April 2. As of 5:50 a.m. on April 3 (Vietnam time), the Dow Jones Industrial Average futures fell 1,007 points, or 2.3%. S&P 500 futures fell 3.4%. Nasdaq futures fell 4.2%.

Regarding the tariff story, Mr. Huy commented that after Trump imposed tariffs, many investors will be somewhat concerned about domestic growth, thus dumping stocks.

Ngoc Vy

Source: https://vtcnews.vn/nha-dau-tu-ban-thao-co-phieu-vn-index-giam-hon-82-diem-lao-xuong-day-1-nam-ar935475.html