VN-Index Plunges 19 Points as Power Stocks Unexpectedly Tumble

Vietnam's stock market opened the week in the red, with the VN-Index losing nearly 19 points and over 500 stocks declining. Notably, power and power construction stocks experienced a sharp fall, with many counters like HDG, PC1, GEE, and TV2 seeing significant drops, impacting overall market sentiment. While the market initially showed some resilience supported by large-cap stocks, individual stock performance was weak. PNJ continued to be a focal point, hitting its lower trading limit for the second consecutive session, causing its market capitalization to decrease by VND 4.36 trillion (approximately $170 million) in just two trading days. Amidst market volatility, the artificial intelligence (AI) boom has become a lucrative "bait" for cybercriminals, with a sharp increase in attacks targeting small and medium-sized businesses (SMBs). The proliferation of AI tools like ChatGPT, DeepSeek, and Claude is believed to be contributing to the sophistication of these cyberattacks. Consumers are expressing dissatisfaction over the lack of price reductions for dishes like rice plates and pho, despite a significant drop in fuel prices. Many vendors are reluctant to lower prices for various reasons, and some have even increased them. In the transportation sector, inter-provincial bus fares have seen reductions of VND 20,000-50,000, while railway fares dropped by 10%, and airline tickets are more flexible during certain hours. However, logistics and freight transport costs face significant challenges in reduction. In Malaysia, durian prices are plummeting due to a bumper harvest causing oversupply. Crystal Bay has affirmed that the company and its individual Mr. Nguyen Duc Chi have no intention of deception, do not organize the issuance of products to defraud customers, and do not transform resort products into financial products for illegal capital mobilization. Regarding the feedback from local authorities about residents awaiting compensation for land acquisition for the Ho Chi Minh City - Thu Dau Mot - Chon Thanh expressway, the Ho Chi Minh City People's Committee leadership has requested urgent resolution within 10 days. The Ho Chi Minh City Tax Department will intensify inspections in high-risk sectors such as food and beverage, retail, dentistry, healthcare, beauty, and other professions with large cash revenues. Analysts suggest that investors should refrain from hasty actions until full information is available regarding the PNJ incident. Gold prices rose by $16 this morning, nearing the $4,200 per ounce mark. The collaboration between Changi Airports International and Sun Group signifies a larger ambition for Vietnam's aviation infrastructure. Schneider Electric has officially announced its agreement to acquire 100% of the shares of Cognite, a pioneer in industrial AI and data software, for a valuation of up to $3.1 billion. On July 5, Nam Long Real Estate Transaction Floor officially inaugurated its new business office at 35 Street B4, Sala Urban Area, An Khanh Ward, Ho Chi Minh City. Each diamond reaching the buyer goes through a long journey across many countries, creating numerous opportunities for fraudulent schemes to intervene. Due to the lack of sufficiently capable domestic "arbiters" in most countries, the entire market's trust and the value of diamonds are concentrated in the reputation of gemological laboratories. The government has issued a decree detailing certain articles of the Law on E-commerce, including notable provisions on the operating regulations for livestream sales. Foreign Currency (VND) Stocks (Points) SJC Gold Price (Million VND/tael) Please enter Email. Email format is incorrect. Please enter your Name. Please enter your Display Name. Please enter the verification code. Incorrect password. Incorrect login information. Account is locked, please contact the administrator. 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