Vietnam Daily Market Recap March 28 2025 – MBB Update

Stocks fall as investors eye potential US tariffs next week  

The VN-Index traded mostly in the red on Friday after a brief gain at the open, closing down 0.5% at 1,317.46. Market liquidity rebounded from yesterday, increasing 33.9% to VND17.0tn (USD680.0mn). The HNX Index followed a similar pattern, posting a loss of 0.6% to close at 238.2.

Most sectors fell today, with Oil & Gas (-1.9%), Technology (-1.5%) and Basic Resources (-1.4%) faring the worst, followed closely by Telecommunications (-1.2%) and Retail (-1.2%). On the other hand, Financial Services (+0.3%), Insurance (+0.2%) and Automobiles & Parts (+0.2%) managed to eke out small gains.

As Trump’s reciprocal tariffs reveal day on April 2 draws near, the VN-Index is experiencing some selling pressure as market participants are looking to take advantage of the few remaining trading days to manage their risk exposure. Although Vietnam’s average tariffs on US goods are relatively low compared to other countries, thus reducing the risk of high reciprocal tariffs, the US’s position as Vietnam’s largest export country means that tariffs could have an outsized effect on the Vietnamese economy, warranting prudent risk management.

Foreign investors net sold today with (VND406.6bn, USD16.3mn), with selling momentum focused on PNJ (VND169.5bn, USD6.8mn), VNM (VND148.3bn, USD5.9mn), and FPT (VND88.9bn, USD3.6mn), On the buy side, they mainly bought VIX (VND210.1bn, USD8.4mn), VND (VND75.0bn, USD3.0mn), and VHM (VND49.8bn, USD2.0mn).

Top performers today included VIC (+1.6%), LPB (+1.4%) and BSI (+4.8%). Top laggards included VCB (-1.1%), FPT (-1.7%) and HPG (-1.3%).

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