Billionaire Tran Dinh Long goes against the trillion-dollar pressure from Chinese goods

In the trading session on July 21, profit-taking pressure increased sharply as the VN-Index approached the 1,500-point threshold and was very close to its historical peak. Many stocks that led the market to increase rapidly in the past 3 months turned to decrease in price, including the "Vin family" stocks, such as Vingroup , chaired by Mr. Pham Nhat Vuong.

Increased profit-taking pressure caused Vingroup shares (VIC) to hit the floor (-7%) near the end of the afternoon of July 21, down to VND110,700/share after a series of prolonged increases, nearly tripling in nearly 5 months.

At the end of the trading session on July 21, VIC shares decreased by 7,000 VND, down to 112,000 VND/share. Vinhomes (VHM) decreased by 4,000 VND, down to 92,000 VND/share. Vincom Retail (VRE) decreased by 450 VND, down to 29,000 VND/share.

Many key stocks also turned down after several months of strong growth, such as: Masan Group (MSN) chaired by billionaire Nguyen Dang Quang; Techcombank (TCB) chaired by Ho Hung Anh; Vietcombank (VCB); SSI Securities (SSI); Mobile World (MWG)...

The VN-Index decreased by 12.23 points (-0.82%) to 1,485.05 points after increasing rapidly in the past 3 months.

However, many stocks still attract cash flow and increase points, such as: FPT of FPT Group, LPBank (LPB), SHB Bank, VietJet (VJC)...

HPG shares of Hoa Phat Group - chaired by billionaire Tran Dinh Long, "swam against the current" amid a strong wave of profit-taking in the market, reaching a 3-year high.

Specifically, HPG increased by 300 VND to 26,200 VND/share.

Billionaire Tran Dinh Long. Photo: HH

With a strong increase in the past month, up to 26,200 VND/share as at present, Mr. Tran Dinh Long's assets have also increased rapidly, from 2.2 billion USD to 2.6 billion USD according to Forbes' calculation as of July 21.

HPG shares increased sharply thanks to a series of positive information related to production, export and policies supporting the steel industry.

Hoa Phat Group is the enterprise with the largest steel market share in Vietnam and one of the largest steel producers in Southeast Asia, with a total capacity of up to 16 million tons of crude steel/year when the Hoa Phat Dung Quat 2 Iron and Steel Production Complex is inaugurated in September 2025. This enterprise is expected to benefit from the newly issued private economic incentive policy.

HPG has benefited from Vietnam starting to impose anti-dumping duties on some hot-rolled steel (HRC) products from China and India in the past few months. HPG has also just officially been exempted from EU anti-dumping duties on hot-rolled steel coil. Hoa Phat HRC steel exported to Europe is subject to a 0% tax rate, while the tax rate for other Vietnamese enterprises is 12.1%.

Hoa Phat will also start construction on a steel rail factory on August 19 to serve the North-South high-speed railway project, the Hai Phong-Hanoi-Lao Cai railway project, and many urban railway projects in Hanoi and Ho Chi Minh City. This is the only enterprise in Southeast Asia that can produce high-speed railway steel rails.

In a latest move, the Ministry of Industry and Trade has sent a document to the Customs Department requesting increased supervision and thorough inspection of the import of HRC steel products with a diameter larger than 1,880 mm, to avoid inaccurate declarations or law evasion.

In June, the import volume of this item reached 215,000 tons, an increase of 26 times compared to the same period last year. In 6 months, the import volume of this type of steel from China to Vietnam reached nearly 650,000 tons, 15 times higher than the same period last year, causing a loss of about 2,300 billion VND to the state budget.

Thus, this is positive information for Hoa Phat and could be a support for this stock in the session of July 21.

In the general market, money still tends to flow into stocks when other investment channels are less attractive. The real estate market has recently shown signs of not being as vibrant as at the beginning of the year.

Information about the Ministry of Finance's proposal to apply a 20% tax on the difference between the purchase and sale price of real estate for each transfer may impact real estate investment/speculation activities.

In fact, at the opening of the trading session on July 21, when information about the proposal to apply a 20% tax on the difference between the purchase and sale prices of real estate had not yet spread, the VN-Index increased by more than 11 points and reached the 1,512 point mark. Profit-taking pressure increased and grew towards the end of the session. Liquidity remained high throughout the session, reaching more than VND35.4 trillion on HoSE alone, 29% higher than the average of 20 sessions.

According to CSI Securities, the decline on July 21 was the first signal showing that the VN-Index's growth momentum is showing signs of slowing down and there is a high possibility of a correction after the strong growth of the previous 5 weeks.

New peak re-established after more than 3 years, billionaires Pham Nhat Vuong and Tran Dinh Long's assets have broken through. Hoa Phat Group's HPG shares increased sharply, bringing Mr. Tran Dinh Long's assets to 2.4 billion USD. Explosive liquidity pushed the VN-Index above the 1,400-point mark, with pillar stocks such as Vingroup, Vinhomes and banks breaking through.

Source: https://vietnamnet.vn/tap-doan-ty-phu-tran-dinh-long-nguoc-dong-truoc-ap-luc-nghin-ty-tu-trung-quoc-2424283.html