Vietcap Daily - VN-Index plunges 1.6% on broad selloff to fall below 1,200

* VinFast (Nasdaq: VFS): Management expects VFS to continue riding the EV wave with significant commitment of support to drive further growth - Inaugural Earnings Call Highlights
* Market wrap: VN-Index plunges 1.6% on broad selloff to fall below 1,200

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Market wrap: VN-Index plunges 1.6% on broad selloff to fall below 1,200

On Friday, the VN-Index plunged by 1.6% to close at 1,193.05 on a broad selloff across sectors. Trading turnover on HOSE surged by 40% from the previous session to VND32.33tn (USD1.33bn). For the week, the VN-Index fell by 2.8%.

* VHM (-4.4%) and its parent company VIC (-4.2%) were the top two contributors to the day’s loss.

* Among steel manufacturers, HPG (-3.9%) dropped, while both HSG (-6.9%) and NKG (-6.9%) plunged to the daily trading floor.

* Securities brokerages SSI (-6.2%), VND (-6.8%), VIX (-6.8%), VCI (-6.8%) and HCM (-6.9%) continued to suffer heavy losses.

* Although most banks fell, VCB (+2.6%), BID (+1.9%) and STB (+1.7%) defied the trend.