HCMC – Vietnam’s benchmark VN-Index fell by nearly 110 points within the first 15 minutes of trading this morning (March 9) to 1,658 points, marking the largest decline in its history in absolute terms.
Data showed the market lost more than 109 points immediately after opening. On the Hochiminh Stock Exchange (HoSE), 320 stocks declined, including 165 hitting their floor prices.
Large-cap stocks also came under heavy selling pressure, with nearly the entire VN30-Index basket in the red. Twenty VN30 stocks fell to their floor prices, sending the VN30-Index crashing by more than 126 points to 1,778 points, the steepest intraday drop on record for the index.
Oil and gas stocks moved against the broader market trend but still faced strong selling pressure. Shares of Binh Son Refining and Petrochemical (BSR) remained in positive territory.
Securities firms advised short-term investors to adopt a defensive stance, maintain moderate to low stock exposure, limit the use of margin trading, and avoid chasing rising prices.
