Many 'billion-dollar' stocks lost more than 20% of their capitalization, including new stocks listed on HoSE.

The Vietnamese stock market is showing signs of recovery after a correction. Conventionally, a stock price decrease of 10-20% is often considered a "technical correction zone". However, reality shows that the scale and level of this correction is quite deep.

The stock market recorded a prolonged correction after a period of rapid growth - Photo: QUANG DINH

As of November 12, VN-Index has temporarily escaped the correction state thanks to two consecutive recovery sessions.

Although not yet in a "panic" state like in 2022, the damage to the group of billion-dollar capitalization stocks is still remarkable.

A series of codes have decreased by more than 20%, including businesses considered "locomotives" or have just been listed on HoSE.

Stock group: VIX stocks lead the decline

In the securities group, VIX Securities Corporation (VIX) became the center of attention when this stock fell 37% from its peak price.

The fact that VIX's capitalization "evaporated" thousands of billions of VND in a short period of time has made investors worried because this is one of the largest public companies with more than 60,000 shareholders (data at the 2025 Annual General Meeting of Shareholders).

According to research, there have been many false rumors circulating on social networks related to VIX. VIX representatives have had to send messages to stabilize investor sentiment recently by stating that they always comply with information disclosure standards, while focusing on optimizing resources, planning strategies and improving governance capacity to increase shareholder value.

A long-time investor commented: "The rumor factor is inevitable in the stock market. However, it cannot completely explain the deep decline of many large-cap stocks."

In fact, the sharp decline that caused the VIX to lose a significant amount of capitalization is also a common situation for many stocks in the industry.

Other large codes such as VNDirect (VND) decreased by 27%, Vietcap (VCI) lost 26% while SSI is also decreasing by nearly 18%.

Notably, Techcom Securities - TCBS (TCX), the largest capitalization company in the industry and just IPO'd on HoSE, is not out of the correction trend. Just a few weeks after its IPO, TCX shares are down nearly 16% from their highest price after IPO.

There are real estate and banking stocks that have fallen over 30%.

The scope of the correction expanded to many industry groups. Among them, banking stocks also recorded a 32% decrease in Eximbank (EIB).

Meanwhile, VPBank (VPB) and VIB are both down over 20%.

The real estate group is also the focus of adjustment with a series of "billion-dollar" codes falling sharply. Leading the decline, No Va Real Estate Investment Group Joint Stock Company (NVL) is losing 32%.

Shares of GELEX Group (GEX) fell 31%, while Vinhomes (VHM) also fell nearly 29%.

Notably, Vinpearl (VPL) - a newly listed company on HOSE on May 13 - recorded a decrease of about 30% after only half a year of trading.

This is the fourth company in the Vingroup ecosystem listed on HoSE, alongside VIC, Vinhomes (VHM) and Vincom Retail (VRE).

In fact, in addition to VHM and VPL, VRE is decreasing by 27%, thereby showing the direct influence of Vingroup group on VN-Index and the entire general market.

The sharp decline in many large-cap stocks has consequences for investors using financial leverage (margin).

In volatile market conditions, without good risk management, investors may not be able to preserve their assets or even suffer greater losses.

Mr. Nguyen Anh Khoa - Director of Agriseco Securities Analysis - said: "Investors will likely need more time to observe and wait for new balance zones. At the present time, new disbursements are not encouraged. When the balance index is at the support zone with the stock ratio, it can be maintained at 40-60% of the portfolio".

Regarding industry groups, Mr. Khoa said that investors can refer to some mid-cap stocks in industry groups such as chemicals, energy, seafood and industrial zones in the scenario of the index testing and recovering at the threshold of 1,585 points.

For the scenario where the index falls rapidly and heads towards the distant support level in the 1,490-1,510 zone, investors can wait for opportunities in the securities, banking, and real estate groups after the adjustment process and bottoming before the market.

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Source: https://tuoitre.vn/nhieu-co-phieu-ti-usd-mat-hon-20-von-hoa-co-ca-ma-moi-chao-san-hose-20251113140037176.htm