At the end of last week, the US Department of Treasury issued a report on the macroeconomic and foreign exchange policies of major US trading partners, which continued to review the main trading partners based on three criteria, including bilateral trade surplus, current account surplus, and persistent one-sided foreign exchange market intervention.
According to the above criteria, 12 economies were put on the watch list, including China, Japan, South Korea, Germany, Italy, India, Singapore, Malaysia, Thailand, Mexico, Vietnam, and Taiwan. Vietnam and Taiwan alone were put back on the monitoring list because they no longer meet all three criteria.
Notably, Asia's stock markets simultaneously dropped in the context that technology stocks were sold off all at once. In Japan, the Nikkei 225 Index declined 2.83 percent, South Korea's Kospi Index sank 2.63 percent, and Taiwan's Taiex Index fell 2.32 percent. The Chinese stock market failed to stay out of the downtrend when the Shanghai Composite slid 1.16 percent.
The above negative information contributed to creating a pessimistic atmosphere right from the first minutes of the morning trading session. Selling orders appeared densely on the electric board in all stock groups, from large-cap to speculative ones.
At the end of the trading session, the VN-Index plunged 57.04 points, or 4.44 percent, to 1,227.04 points. Of the index, there were 458 losers, with 163 hitting the floor. On the contrary, only 38 stocks went against the market trend when closing in green.
The negative sentiment was obvious in the VN30 basket, with 29 losers out of 30 stocks. Among these, seven stocks lost 7 percent, including BVH, CTG, PNJ, GVR, SSI, VPB, and TPB.
The remaining stocks also recorded a sharp decrease and negatively affected the VN-Index, such as MSN with a decrease of 6.8 percent, PLX with 6.7 percent, MBB with 6.7 percent, STB with 5.9 percent, TCB with 5.1 percent, VHM with 3.4 percent, VNM with 4.5 percent, VRE with 4.9 percent, ACB with 5.2 percent, BID with 5.5 percent, HDB with 5.2 percent, HPG with 5.4 percent, MWG with 6.7 percent, PDR with 5.1 percent, and SAB with 3 percent.
The only bright spot in the trading session was the market liquidity when the bottom-fishing cash flow showed signs of rejoining the market. According to statistics, the trading value of HoSE reached more than VND18.52 trillion dong, equivalent to 733.4 million shares matched.
