Personal & Household Goods

Foreign investors net sold 443 billion VND (~17.72 million USD) across all three exchanges on July 23, with banking stocks MBB, TCB, VCB, VPB, and TPB being the most sold. The VN-Index still rose nearly 31 points to near 1,700 points.

Domestic gold prices in Vietnam dropped sharply on July 23, with SJC and PNJ gold bars and rings falling up to 7 million VND per tael, reflecting a broad sell-off in the precious metals market.

PNJ has widened its gold buy-sell spread and lowered buy prices significantly compared to competitors since July 21, amid increased customer sellbacks following a diamond smuggling scandal involving its former lab leadership.

Gold bar prices in Vietnam dropped by 4 million VND per tael to 142 million VND, the lowest since June 11, following a decline in international gold prices amid rising Middle East tensions and anticipation of the Fed meeting.

A smuggling ring has been uncovered involving 3,400 illegally imported diamonds worth over 500 billion VND, which were funneled into SJC's retail system. The investigation has also implicated a director from PNJ's appraisal subsidiary.

PNJ adjusts its diamond buyback policy, capping daily payments and stretching full settlement to 120 days, as a surge in customer sellbacks pressures liquidity. The stock has dropped 46% in one month to a 3-year low, despite the company holding over 4,400 billion VND in cash and deposits.

Dragon Capital reduced its stake in PNJ to 4.55%, losing its status as a major shareholder, after selling 2.5 million shares. The stock has fallen sharply amid the ongoing scandal involving a subsidiary's director and a diamond smuggling ring.

Foreign investors net sold nearly VND 1,921 billion (USD 76.8 million) on July 22, contributing to a 62-point drop in the VN-Index below 1,700. SSI, VIC, and VCB were the most sold, while VNM, HPG, and GEE were net bought.

On March 9, 2026, the VN-Index plunged 115.05 points (-6.51%), the sharpest drop in 4 months, with blue-chips like VIC, VHM, and MWG hitting floor prices. Foreign investors net sold 1,936 billion VND (approx.

PNJ shares fell to 35,500 VND on July 22 after SSI and KIS cut margin lending to 0%, joining a wave of securities firms removing the stock from margin lists. The move follows a scandal in the jewelry and diamond market, wiping over 13,800 billion VND from PNJ's market cap since early July.