Nearly $36B in market cap wiped from Vietnam’s main bourse since Trump's tariff announcement

By Minh Hieu April 9, 2025 | 02:44 am PT

An investor points at stock prices on a screen at a brokerage in Ho Chi Minh City. Photo by VnExpress/Quynh Tran

Vietnam's benchmark VN-Index fell 3.40% to 1,094.30 points Wednesday, extending losses that have wiped VND933 trillion (US$35.9 billion) from the Ho Chi Minh Stock Exchange’s total market capitalization since U.S. President Donald Trump announced sweeping tariffs last week.

The index fell 38.49 points, marking its fourth straight session of losses. It saw a 77.88-point drop in the previous session.

Trading on the main bourse, the Ho Chi Minh Stock Exchange, increased by 28% to VND32.402 trillion (US$1.25 billion).

The VN-30 basket, comprising the 30 largest capped stocks, saw 23 tickers fell, with 7 of them hitting floor price.

Other tickers with large decreases were CTG of state-owned lender VietinBank, down 6.11%, and HDB of HDBank with a 5.94% drop.

Seven blue chips gained, with SAB of brewer Sabeco seeing the biggest jump of 3.5%.

VIC of private conglomerate Vingroup went up 3.4% and VHM of property giant Vinhomes closed 3.2% higher.

Foreign investors were net buyers to the tune of VND254 billion, mainly buying FPT of tech giant FPT Corporation and MWG of electronics retail chain Mobile World.

The HNX-Index for stocks on the Hanoi Stock Exchange, home to mid and small caps, fell 4.21%, while the UPCoM-Index for the Unlisted Public Companies Market went down 0.09%.