Bao Tin Minh Chau’s gold rings were priced at VND 149.5 million, while Manh Hai’s were VND 148.2 million.

On the stock market, investor portfolios continued to erode as the USD 200 billion exchange struggled amid persistent downward pressure.

The VN-Index has dropped roughly 170 points - almost 10% - from its peak and is gradually approaching the 1,600-point threshold.

Numerous stocks have fallen by 20–40% in recent weeks, including heavy losses in shares such as VIX Securities and Dat Xanh Group (DXG).

Investor sentiment remains fragile, and trading volume continues to hover at low levels despite the deep index decline.

Experts predict that the stock market may continue adjusting, with the VN-Index potentially falling to between 1,500 and 1,560 points.

While a drastic drop seems unlikely, the ongoing correction could cause the VN-Index to shed 15–18% after its strong 66% surge from April to September.

The market is under significant pressure from profit-taking by early investors.

Meanwhile, heavy net selling by foreign investors exacerbated market woes in October amid a lack of supportive news.

In the first 10 months of 2025, foreign investors offloaded over VND 100 trillion (approx. USD 4.1 billion) worth of shares on the Ho Chi Minh Stock Exchange (HoSE), surpassing the full-year record of 2024 (over VND 90 trillion).

This selling trend coincided with a sharp rise in the USD/VND exchange rate.

The pressure may ease if the U.S. Federal Reserve cuts interest rates at its December meeting, but for now, foreign currency demand at year-end continues to pose challenges.

Many investors now face the risk of margin calls and forced liquidation.

With losses of 30–40% on many stocks, forced selling could occur if the market declines further.

Most investors are holding out for a market rebound in hopes of breaking even.

Vietnam's stock market downturn contrasts with global markets, where risk appetite remains strong.

Asian stocks rallied on November 3, extending Wall Street’s gains.

The U.S. Nasdaq Composite rose at the start of the week, buoyed by major deals in the artificial intelligence (AI) sector.

Meanwhile, the cryptocurrency market has also suffered sharp sell-offs.

Bitcoin fell 2.7% in the past 24 hours to USD 106,600, far below its October 5 high of over USD 125,000.

Ethereum dropped 5.3% over the same period to USD 3,637, compared to USD 4,750 on October 7.

The total market capitalization of cryptocurrencies is now USD 3.55 trillion, down from USD 4.32 trillion in early October.

Crypto markets remain volatile.

Experts predict that Bitcoin could dip further to around USD 98,500 before stabilizing.

Several large investment funds have exited the market, and even small retail investors are showing signs of retreat.

Vietnam’s real estate market, meanwhile, is in a recovery phase, with supply rising sharply.

However, the market remains uneven, with mid- and high-end segments dominating the new supply pipeline.

Home prices have soared in 2025, reaching record highs.

Apartment prices within Ring Road 3.5 in Hanoi now range from VND 80–120 million per square meter (USD 3,300–5,000), while land plots are selling for several hundred million VND per square meter.

Transactions have recently slowed, with only small-sized apartments attracting buyers.

With most investment channels underperforming and Vietnam’s macroeconomic indicators relatively stable, some investors are returning to bank deposits amid signs of rising interest rates.

Many banks are now offering deposit rates of 5.9–7% for 12–13-month terms.

Some banks even offer rates of 7.5–8% per annum for large deposits with 24-month terms and gifts included.

Household savings deposits in the banking system reached a new record of nearly VND 7.75 quadrillion (approx. USD 318 billion) by the end of July, up 9.7% from the beginning of the year.

This trend is likely to continue, with deposit rates rising and liquidity tensions evident through the overnight interbank rate, which has surged to 5.6% per annum.

Manh Ha