Vietnam

Intelligence for Better Decision Making

Vietnam Stock Market Sees Sharp Late-Week Sell-Off Amid High Liquidity and Heavy Foreign Outflows
Nov. 27, 2025 | Financial System

Vietnam’s stock market experienced a sharp reversal after early‐week gains, with the VN‐Index closing lower amid heavy selling pressure.

**After rallying earlier in the week, the Ho Chi Minh City VN‐Index plunged in the final minutes of trading, ending 7.6 points down at 1,660.36.**
The VN30 index also retreated, and selling dominated the market with 248 stocks declining versus about 80 advancing. Large‐cap names such as Vingroup, Vietjet, Vinpearl, and HDBank provided some support but could not prevent the downturn.

**Securities stocks bore the brunt of the sell‐off: SSI, VCI, VIX, and VND each tumbled more than 2%.**
Major caps including SSI, VRE, VPB, GVR, and DGC fell between 2% and 4.5%, and smaller HoSE names such as SVI, HII, FDC, SFC, and VMD hit their floor prices. Banking shares generally slid 1% to 1.5%, though HDBank and LPB bucked the trend with gains of 2.3% and 0.9% respectively. In real estate, both domestic and foreign investors sold heavily, driving smaller‐cap developers SCR, HQC, and DIG sharply lower, while VIC and VPL recorded modest advances.

**Trading liquidity surged by nearly 10,000 billion VND from earlier in the week, reaching around 27,000 billion VND.**
Three stocks posted exceptionally high turnover: SSI at 1,765 billion VND, SHB at 1,283 billion VND, and VIX at 1,200 billion VND. Foreign investors sold more than 2,700 billion VND while buying about 2,400 billion VND, resulting in net sales exceeding 360 billion VND. Their largest outflows went toward SSI, VIC, VHM, and VRE, while they added to positions in HDB, VHM, FPT, HPG, KBC, and VJC.

**Among VN30 constituents, Vietjet (VJC) and HDBank stood out.**
Vietjet shares climbed to the ceiling price of 219,100 VND on November 25, with trading volume topping 3.2 million shares. The stock has advanced in nine of the last ten sessions, gaining over 71% in three months. HDBank shares rose 2.25% on the same day. Other influential VN30 names included VIC, LPB, GEX, VPL, GEE, and HAG.

**Analysts at Yuanta Vietnam Securities said the market remains in a narrow sideways phase and that a clear uptrend will require a breakout above the 1,670 resistance level on the VN‐Index.**
Ho Chi Minh City accelerates green and digital transformation toward global smart megacity status
Nov. 27, 2025 | Technology & Innovation

Ho Chi Minh City is advancing a comprehensive strategy to transform itself into a world-class smart megacity by leveraging financial innovation, infrastructure development, and green technologies.

**Prime Minister Pham Minh Chinh outlined five essential conditions for this transformation: mobilize robust capital through an International Financial Center slated to begin operations in 2026; develop advanced physical and digital infrastructure; establish liberalized, competitive institutions to attract investors; cultivate a skilled workforce; and implement smart governance.**
He added that international cooperation based on harmonized benefits and shared risks will underpin these efforts.

**Following a recent municipal merger, Ho Chi Minh City’s population has surpassed 14 million, and its economy now accounts for nearly a quarter of Vietnam’s GDP.**
Party Secretary Tran Luu Quang presented a development model built around three regions, one special zone, three corridors, and five pillars: high-tech industry and innovation; logistics; the International Financial Center; tourism and cultural industries; and education, healthcare, and science and technology.

**At the CEO 500 – Tea Connect event, several corporations committed to supporting the city’s innovation and digital transformation.**
Sunwah will establish vocational training centers alongside advanced data and energy infrastructure, while Siemens ASEAN plans human resource development and green technology projects. Nokia and Qualcomm proposed joint initiatives on secure digital infrastructure, artificial intelligence, and generative AI. FPT suggested positioning Ho Chi Minh City as an AI export hub by reinforcing connectivity and cybersecurity for the financial center.

**Nguyen Van Duoc, Chairman of the Ho Chi Minh City People’s Committee, pledged to accelerate the International Financial Center’s development, streamline administrative procedures, and leverage science and technology to achieve double-digit growth.**
Prime Minister Chinh expressed confidence that the city can compete globally despite geopolitical uncertainties, emphasizing that its people lie at the heart of national progress.

From November 24 to 30, the Autumn Economic Forum 2025 drew more than 1,500 domestic and international delegates under the theme “Green transformation in the digital era.” Organized by the city’s People’s Committee, the HCMC Centre for the Fourth Industrial Revolution, relevant ministries, and the World Economic Forum, the forum’s plenary sessions detailed Vietnam’s dual transformation strategy, focusing on AI, automation, green technology, and a smart economy model.

City leadership then defined six strategic commitments: build breakthrough institutions under Resolution 98; restructure urban planning around the three zones, three corridors, and five pillars framework; operationalize the International Financial Center under Resolution 222/2025/QH15; leverage cultural and creative assets; promote science, technology, and innovation through state-academia-enterprise collaboration; and reform public administration to deliver transparent, efficient services to investors.

**Prime Minister Chinh described the global context as marked by political polarization, economic fragmentation, supply chain disruptions, and rising debt, and he urged the city to pursue green and digital transformation as strategic imperatives.**
He called for open institutions, seamless infrastructure, intelligent management, and pragmatic execution, with the private sector leading initiatives supported by state foundations.

**Vietnam’s approach rests on three overarching viewpoints: center development on people and enterprises without sacrificing social equity or environmental protection; maintain an independent, cooperative foreign policy and multilateralism; and harness innovation by integrating national strengths with international resources.**
To implement these principles, the government will enact pioneering legal frameworks and incentives, reduce administrative burdens, mobilize public and private resources, cultivate high-quality human capital through education-industry partnerships, and expand international cooperation in advanced technologies.

**At the forum, Amazon Global Selling pledged long-term support for Vietnamese SMEs and announced an Amazon Global Logistics center in Ho Chi Minh City.**
PepsiCo emphasized the need for recycling infrastructure and market development for circular economy materials. Nokia reaffirmed its commitment to a sustainable digital ecosystem, and Sun Seven Stars Investment Group outlined plans for an AI-driven International Financial Center centered on data monetization.

**The Autumn Economic Forum convened top Vietnamese leaders alongside ministers, diplomats, and over 500 high-tech and innovation enterprises, demonstrating strong national and international dedication to Ho Chi Minh City’s green, digital, and sustainable transformation into a global smart megacity.**

Monitored Intelligence for Vietnam - Nov. 28, 2025


News
Media
94

Government
Releases
26

City/State
Releases
0

Embassy
Releases
2
Foreign
Service
Advisories
0
Academic/
Think
Tank
1


Podcasts
0


Videos
0

Social
Media
0

Business
Releases
9

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Cháy chung cư ở Hong Kong: Ít nhất 44 người thiệt mạng

Apartment fire in Hong Kong: At least 44 people dead

Bao Dien Tu | Local Language | News | Nov. 28, 2025 | Accidents

A large fire broke out on November 26 at 14:51 local time in a residential complex in Hong Kong, spreading rapidly to 7 of the 8 buildings due to strong winds and the presence of bamboo scaffolding and protective netting. The complex, consisting of towers over 30 stories high and housing approximately 4,000 residents, was undergoing renovation and covered with bamboo scaffolding and green netting. The fire caused thick black smoke and serious damage, prompting Hong Kong authorities to deploy 128 fire engines, 57 ambulances, and nearly 800 firefighters, while raising the fire alert to the highest level 5.

As of November 27, at least 44 people have died in the incident. Injuries mainly include respiratory problems, burns, and carbon monoxide poisoning, with many patients requiring intensive care. Nine hospitals activated emergency protocols to treat the injured, and the Tai Po district office set up temporary shelters for 900 affected residents, supported by relief teams from all 18 districts of Hong Kong. The Chief Executive, John Lee, confirmed that firefighting efforts were gradually bringing the blaze under control.

Three individuals linked to the engineering company responsible for repairs and maintenance of the buildings have been arrested, including two directors and one technical advisor. Investigations revealed that the protective netting and plastic panels on the building's exterior did not meet fire safety standards. A joint task force from the Police and Fire Services Departments is examining the cause of the fire and whether the scaffolding materials contributed to the rapid spread. Authorities are also progressing with inspections as bamboo scaffolding, although common in Hong Kong, is being phased out following previous fire concerns.

The housing complex, Wang Fuk Court, established in 1983 under a local government support program, had approved a renovation project worth over 42 million USD last year. The exact cause of the fire remains undetermined, but the materials used on scaffolding combined with strong winds are suspected factors in the extensive damage and casualties.

Vietnam issues Questionnaire for Anti-Circumvention Investigation on Certain Hot-Rolled Steel Products from China (Case Code: AC03.AD20)

ASL Law Firm | English | AcademicThink | Nov. 28, 2025 | Regulation

On 27 October 2025, Vietnam’s Minister of Industry and Trade initiated an anti-circumvention investigation under case code AC03.AD20 targeting certain hot-rolled steel products originating from China. A detailed questionnaire has been issued to domestic producers and importers to collect information on production, imports, and trade practices that may indicate circumvention of existing trade remedy measures.

The questionnaire is accessible online through official electronic systems, with a submission deadline of 17:00 Hanoi time on 24 December 2025. Respondents must follow the specified online procedures and provide complete and accurate information, as failure to comply may be regarded as non-cooperation under trade remedy regulations. Importers are also advised to coordinate with their foreign suppliers to ensure necessary information is submitted.

Guidance on completing the questionnaire, including document format and submission instructions, is provided within the questionnaire itself. Stakeholders are encouraged to thoroughly review these instructions and seek assistance from specialized legal firms such as ASL Law, a top-tier Vietnamese law firm specializing in anti-dumping and trade remedy, to safeguard their interests during the investigation.

Hà Nội cấm xe máy xăng trong vành đai 1 theo khung giờ từ 1/7/2026

Hanoi bans gasoline motorcycles within Ring Road 1 during specific hours from July 1, 2026

VN Express | Local Language | News | Nov. 28, 2025 | Regulation

On November 26, the Hanoi People’s Council unanimously approved a Resolution on low-emission zones under the Capital City Law 2024. The Resolution introduces restrictions on petrol-powered motorcycles and app-based hired vehicles within designated low-emission zones during specific time slots or in particular areas. Cars not meeting emission standard level 4 will also face time- or route-based restrictions, with an emphasis on transitioning commercial vehicles from fossil fuels to green energy. From July 1, 2026, taxis must be electric or use green energy, and all motorbikes must complete their conversion by 2030. Further restrictions on vehicle circulation will be decided by the City People’s Committee starting January 1, 2035.

The low-emission zones will initially pilot in wards within Ring Road 1 from July 1, 2026, including Hai Bà Trưng, Cửa Nam, Hoàn Kiếm, Ba Đình, and others. By January 1, 2028, the zone will expand to include the entire Ring Road 1 and parts of Ring Road 2. From January 1, 2030, the low-emission zone will cover all wards within Ring Road 3. Additional measures include banning new registrations of fossil fuel vehicles for organizations and prohibiting petrol- or diesel-powered trucks over 3.5 tons from entering these areas. Local communes outside the designated rings are tasked with drafting their own plans for low-emission zones.

The shift to time-slot bans rather than full-time restrictions is designed to accommodate infrastructure readiness, social conditions, and residents’ travel habits. Air pollution, driven predominantly by traffic emissions with motorbikes as the main contributors, has been a longstanding problem in Hanoi. Data shows particulate matter levels (PM2.5 and PM10) exceed national standards, with traffic responsible for 58–74% of emissions. Hanoi currently hosts over 8 million vehicles, including nearly 7 million motorbikes, and faces significant through-traffic daily. The low-emission zones will be prioritized based on environmental protection needs, congestion levels, and recent air quality data.

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