Customers conduct transactions at Vietcombank's Vĩnh Yên branch. The bank's VCB shares hit the floor on Monday, wiping out more than eight points from the VN-Index. — VNA/VNS Photo

HÀ NỘI — Việt Nam’s stock market endured another steep decline on Tuesday, with the VN-Index plunging nearly 80 points to fall below the 1,140-point mark. Liquidity dropped sharply compared to the last two sessions of the previous week, while foreign investors extended their strong net selling streak.

At the close of trading on the Hồ Chí Minh Stock Exchange (HoSE), the VN-Index plummeted by 77.88 points, or 6.43 per cent, to end at 1,132.79 points.

Market breadth was overwhelmingly negative, with only nine gainers compared to 349 losers. Market liquidity fell by 40 per cent from the previous session, totalling approximately VNĐ25.3 trillion (US$974.1 million).

The VN30-Index, which tracks the 30 largest listed companies by market capitalisation, also declined sharply by 83.01 points, or 6.48 per cent, to close at 1,197.51 points. All 30 stocks in the basket ended in the red, with 24 hitting their floor prices.

Blue-chip stocks led the downturn. Vietcombank (VCB) posted the sharpest decline, falling by the maximum allowed 7 per cent and wiping more than 8.3 points off the VN-Index. The Bank for Investment and Development of Vietnam (BID) and VietinBank (CTG) also closed at their floor prices, losing 6.94 per cent and 6.98 per cent, respectively.

Other notable decliners included members of the Vin Group ecosystem. Vinhomes JSC (VHM) dropped 6.56 per cent, while Vingroup Joint Stock Company (VIC) fell 5.49 per cent. Combined, these stocks shaved over six points off the VN-Index.

According to analysts at Saigon – Hanoi Securities (SHS) “In the near term, the market has been hit by a tariff shock that exceeded expectations. This has been a major and unexpected blow to both the economy and investors, resulting in historically sharp declines in both index points and liquidity. This may continue to trigger forced margin sales in upcoming sessions.

“With current developments, we will update our assessment of the market’s fundamental and macroeconomic factors in our April 2025 strategic report, to be released next week. On the topic of tariffs, we have also revised our views and included a detailed methodology for tariff calculations in the report, which we hope will provide investors with clear insights.

“We recommend investors maintain a balanced portfolio allocation and prioritise risk management in this new environment. Investment should focus on fundamentally strong stocks, especially leading names in strategic sectors with outstanding growth potential.”

On the Hà Nội Stock Exchange (HNX), the HNX-Index also plunged 15.93 points, or 7.34 per cent, to close at 201.04 points.

Foreign investors extended their aggressive sell-off, with a net sell value of more than VNĐ1.7 trillion recorded on the HoSE alone. — VNS