VN-Index experiences sharpest drop in half a month.

Despite a broad rally in bank stocks and a dominant number of gainers, the VN-Index still plummeted nearly 17 points due to strong selling pressure on large-cap stocks within the Vingroup ecosystem.

ZNews•29/06/2026

The VN-Index fell by more than 17 points on June 29. Photo: Phuong Lam .

The Vietnamese stock market just experienced its sharpest correction in about half a month as profit-taking pressure increased significantly in large-cap stocks. This development caused the VN-Index to lose nearly 17 points, although most stocks on the market maintained positive gains.

Entering the trading session on June 29th, the VN-Index opened facing strong selling pressure right from the start, particularly in stocks with a significant impact on the index, such as those in the Vingroup group. The decline in large-cap stocks caused the index to quickly fall and offered almost no chance of recovery for the remainder of the session.

Conversely, capital continued to flow into sectors such as finance and banking, public investment, construction, electricity, and energy. Many stocks in these sectors recorded positive gains, pushing the market toward the buying side. However, due to their smaller market capitalization and insufficient impact on the index, these efforts could not offset the strong selling pressure from leading stocks, causing the VN-Index to close in the red.

Market liquidity remains a key concern, showing no clear signs of improvement. The total trading value across the three exchanges reached only about 18,600 billion VND , an increase of approximately 7% compared to the previous session, but still remaining low compared to the average of recent weeks.

At the close of trading, the VN-Index fell 16.94 points (-0.9%) to 1,854.97 points, its sharpest decline since June 8th. Meanwhile, the HNX-Index rose 0.16 points (+0.1%) to 317.99 points and the UPCoM-Index increased 0.4 points (+0.3%) to 129.32 points.

Actual trading activity on the market remained quite positive with 413 stocks rising (including 22 that hit the ceiling price), 840 stocks remaining unchanged, and 298 stocks falling (including 12 that hit the floor price).

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Similarly, the VN30 basket of stocks also recorded 21 gainers and only 9 losers. Nevertheless, the VN30 index still lost more than 4 points, falling to around 2,004 points due to the simultaneous weakening of stocks with large weightings.

The VN-Index experienced its sharpest decline since the beginning of June. Photo: TradingView.

The focus of the trading session continued to be on stocks belonging to the Vingroup ecosystem. Specifically, VIC shares fell 4.7%, VHM fell 3.7%, VRE fell 2.7%, and VPL fell 0.3%, dragging the overall index down. According to statistics, these four stocks alone accounted for more than 22 points deducted from the VN-Index, exceeding the actual decline of the entire index.

Notably, after setting a new historical peak on June 24th, VIC shares continuously faced profit-taking pressure. The prolonged correction in recent sessions has caused the share price to fall to 217,200 VND/unit. Even so, at the current price, VIC remains the company with the largest market capitalization, reaching approximately 1.7 trillion VND .

Besides the "Vingroup" group, the VN-Index also faced pressure from several other large-cap stocks such as TCX (-1.3%), SAB (-1.4%), FPT (-0.6%), VNM (-0.4%), VJC (-0.5%), andOCB (-1.2%).

Conversely, the banking sector continued to support the market. LPB (+3.2%) was the most positive contributor to the index, alongside BID (+1.7%), VCB (+1%), TCB (+1.2%), MBB (+1.4%), VPB (+1.1%), CTG (+0.9%), STB (+1.6%), MCH (+2.5%), and GVR (+1.6%). However, the gains in this group were still insufficient to offset the significant downward pull from large-cap real estate stocks.

Regarding foreign investor transactions, after several positive trading sessions, foreign investors returned to net selling with a value of nearly 800 billion VND across the entire market. The selling pressure was mainly concentrated on VHM with a net selling value of 419 billion VND , followed by VIC with a selling value of 80 billion VND andFPT with a selling value of 73 billion VND .

On the buying side, foreign capital inflows were strongest into MWG with a net purchase value of 83 billion VND , followed by VCB (+56 billion VND ) and HPG (+39 billion VND ).

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