Blue-chip stocks plummeted.
After several sessions of rapid gains, the Vietnamese stock market is entering a correction phase with increasing selling pressure across the board. At 10:30 AM this morning, the VN-Index fell 22.3 points, or 1.2%, to 1,874.59 points, thus moving further away from the 1,900-point mark that the market had recently reached.
The focus of the correction continues to be on the Vingroup (VIC) ecosystem of stocks – a group of stocks that had played a leading role in the market for many weeks.
Vingroup's VIC shares fell sharply by 6,000 VND to 212,700 VND per share. Notably, foreign investors net sold approximately 400,000 VIC shares, adding further pressure to the stock price.
Meanwhile, Vinhomes' VHM shares fell by 5,600 VND to 154,200 VND per share, with net selling by foreign investors reaching approximately 1 million units.
Other stocks in the ecosystem also weakened. Vinpearl's VPL shares fell slightly to 93,400 VND/share, while Vincom Retail's VRE shares dropped 900 VND to 31,900 VND/share.
By 11:15 AM on May 22nd, the VN-Index had fallen 39 points to 1,858 points. VIC shares decreased by 9,100 VND to 209,600 VND per share.
This marks the second consecutive sharp decline for the "Vin Group" stocks after a prolonged rally. VIC shares had surged to nearly 230,000 VND per share on May 14th, contributing to Pham Nhat Vuong's net worth reaching approximately $36 billion, placing him among the top 60 richest people in the world .
Not only real estate stocks, but also banking and oil and gas stocks faced significant selling pressure. BIDV's BID fell by 700 dong to 43,100 dong/share. Vietcombank's VCB fell by 800 dong to 64,100 dong/share.SHB continued to decline to 13,450 dong/share.
In the energy sector, PV GAS's GAS shares fell to 86,600 VND/share, while Petrolimex's PLX shares declined to 42,700 VND/share.
The few bright spots in the market are some key stocks that still managed to maintain a slight upward trend, such as FPT (of FPT Corporation), MWG (of Mobile World Group), and SAB (of Sabeco).
Liquidity on the HoSE exchange reached approximately 5,700 billion VND by 10:45 AM, indicating that capital flows remain quite cautious. In fact, most stock prices have been declining for several months, with the exception of the "Vin group" stocks.
Notably, the decline occurred amidst the announcement of positive business results by many companies and attractive stock valuations. However, market sentiment remained cautious due to a number of uncertainties.
The continuous net selling by foreign investors since the beginning of the year has also created significant pressure. Specifically on May 21st, foreign investors sold a net amount of approximately 1,700 billion VND, focusing on stocks such as VIC, VHM, FPT, MBB, and ACB.
In addition, rising global oil prices have fueled inflation concerns and a trend of increasing interest rates in many countries. The phenomenon of some stocks experiencing consecutive sharp declines due to personnel changes has also strongly affected investor sentiment.
Furthermore, the real estate market has not yet fully recovered, while the flow of idle capital into the stock market remains limited, keeping market liquidity at a low level.
Billionaire Pham Nhat Vuong's assets remain among the world's highest.
Despite the sharp correction in recent trading sessions for stocks belonging to the "Vin group," the market capitalization of businesses within the Vingroup ecosystem remains very high.
VIC shares alone have increased nearly 11 times since the beginning of 2025, becoming one of the strongest performing stocks on the Vietnamese stock market in recent times.
According to Forbes' update on May 22nd, billionaire Pham Nhat Vuong's net worth reached $33.8 billion, a decrease of approximately $1.6 billion compared to its peak in mid-May.
With this fortune, Mr. Vuong ranks 67th on the list of the world's richest people. Previously, he had risen to 58th place globally with an estimated net worth of $36 billion.
Despite the decrease, Pham Nhat Vuong's net worth still increased by approximately $9 billion compared to March. He continues to be the richest person in Southeast Asia.
Not only Mr. Vuong himself, but many members of his family also possess substantial assets thanks to the surge in the "Vin" group of stocks. Ms. Pham Thu Huong currently has approximately $3.7 billion, while Ms. Pham Thuy Hang owns about $2.6 billion.
The market expects the Vingroup ecosystem to continue benefiting as Vietnam accelerates the development of its private sector, investing in infrastructure, urban areas, logistics, energy, and high technology.
Beyond real estate, Vingroup is also expanding strongly into green energy, technology, and large-scale urban infrastructure. This is considered a key driver in helping the company maintain high growth expectations for many years to come.
In 2026, Vingroup aims for revenue of approximately 485 trillion VND and profit of approximately 35 trillion VND. Meanwhile, Vinhomes aims for revenue of approximately 285 trillion VND and profit of approximately 60 trillion VND, a record high to date.
Source: https://vietnamnet.vn/ty-phu-pham-nhat-vuong-van-giau-nhat-dong-nam-a-du-co-phieu-giam-2518229.html
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