Vietnam Daily Market Recap March 05 2025 – Coverage report, OCB update

Stocks fall as Trump reiterates intent to implement tariffs

The VN-Index reached a fresh three-year intraday high of 1,319.5 in early trading on Wednesday and traded in positive territory for most of the session, until a flurry of late selling pushed the index lower to close down 0.6% at 1,304.7. Liquidity dropped slightly, with total trading value at VND22.2tn (USD867mn), down 4.3% compared to yesterday. The HNX-Index traded similarly, dropping 0.8% to 235.4.

With the exception of Media (+0.5%), all sectors traded lower, led by Oil & Gas (-1.5%), Chemicals (-1.4%) and Financial Services (-1.4%), Construction & Materials (-0.9%) and Personal & Household Goods (-0.8%).

Since yesterday, market participants have been gauging the effects of recent US tariffs levied against goods from China, Canada and Mexico. As US stocks tumbled two consecutive sessions and Trump reiterated his embrace of tariffs as a policy weapon in a speech today in front of Congress, prospects for a de-escalation of a trade war dimmed. Combined with the fact that the VN-Index reached a three-year high, the market seemed primed for de-risking, causing selling pressure across all sectors into the close.

Foreign investors continued to net sell today, with a net selling value of VND351.6bn (USD13.7mn). Selling momentum focused on GMD (VND98.0bn, USD3.8mn), HPG (VND96.0bn, USD3.7mn), and VIB (VND76.4bn, USD3.0mn). On the other hand, they bought MWG (VND123.0bn, USD4.8mn), TNH (VND113.2bn, USD4.4mn) and VHM (VND73.3bn, USD2.8mn).

Today’s top gainers included VHM (+1.5%), VIC (+0.7%) and MBB (+0.6%), while top laggards included CTG (-1.0%), GVR (-1.5%) and HPG (-1.1%).

Read the full report: HERE