VN-Index drops more than 30 points as property stocks tumble

VN-Index drops more than 30 points as property stocks tumble

Property stocks led declines, plunging 3.6 per cent on average, with several hitting the floor, including VHM, VRE, CEO and DIG.

Customers trade at the headquarters of Bao Viet Securities Company in Hà Nội. — VNA/VNS Photo

Việt Nam’s stocks tumbled on Monday as property shares slumped after tighter credit rules for real estate deposits raised investor concerns over liquidity and legal risks.

The VN-Index on the Hồ Chí Minh Stock Exchange (HoSE) lost more than 30 points, or 1.82 per cent, to close at 1,652.54 points. The benchmark index declined by 2.8 per cent last week.

Market breadth was negative, with 536 decliners and 125 gainers.

In the VN30 basket, which tracks the top 30 shares by market value and liquidity on HoSE, 24 stocks dropped, five rose and one was unchanged.

Trading value increased slightly from the previous session, with nearly 970 million shares worth VNĐ30.7 trillion (US$1.2 billion) traded, including both order-matching and negotiated deals.

Selling pressure intensified in the afternoon, dragging the VN-Index sharply lower in the final hour.

Property stocks led declines, plunging 3.6 per cent on average, with several hitting the floor, including Vinhomes (VHM), shopping mall developer Vincom Retail (VRE), CEO Group (CEO) and Development Investment Construction Group (DIG). Other major fallers were Vingroup (VIC), Khang Dien Housing Trading and Investment (KDH), and Novaland (NVL), with losses ranging from 2.3 to 3.9 per cent.

Financial institutions followed with major losers including Techcombank (TCB), VPBank (VPB), Military Bank (MBB) and Vietinbank (CTG) which together shaved 1.6 per cent off the index.

Analysts said the sharp decline was triggered by fresh regulatory guidance from the State Bank of Vietnam’s southern branch, ordering commercial lenders in HCM City and Đồng Nai to suspend loans for property deposits until further legal review.

According to Lưu Quang Tiến, a member of the research council of the Vietnam Association of Realtors (VARS), the move could temporarily slow transactions as leveraged buyers retreat and developers face tighter liquidity.

“Only buyers with available cash will feel confident to proceed,” he said, adding that demand may fall 10–20 per cent in the short term.

The decision aims to curb lending risks tied to unfinished or legally unclear projects. Still, it could pressure developers reliant on early deposits and weigh on brokers’ cash flows until financing resumes.

On the Hà Nội Stock Exchange, the HNX-Index fell 0.72 per cent to 265.36 points. The northern index lost 3.2 per cent in the previous week. Liquidity dropped from the previous session, with over 102 million shares worth nearly VNĐ2.3 trillion changing hands.

Foreign investors extended their selling streak, offloading nearly VNĐ1.2 trillion on HoSE, led by SSI Securities Corp (SSI) (VNĐ578 billion) and MBB (VNĐ446 billion). They also sold a net value of VNĐ78 billion on HNX. 

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