The VN-Index reversed to close 2.13 points (0.13%) higher at 1,691 points on October 20, ending a decline, though it did not regain the 1,700-point level lost in the previous session. PNJ hit its daily ceiling price of 19,750 dong per share ahead of an extraordinary shareholders' meeting expected on October 21. The company plans to propose revising its 2026 business plan to a post-tax loss of over 6,270 billion dong, due to provisions of over 7,000 billion dong related to a goods exchange policy, and to seek approval for a private placement of up to 550 million shares to professional investors. Steel stocks led gains, with SMC at its ceiling and NKG up 5.7%, while VHM fell 4.1% and foreign investors were net sellers of nearly 275 billion dong.
Summary written by Upside AI from the original article. Read the source for full details.
Original headline: PNJ tăng trần, VN-Index thoát sắc đỏ
Keywords
VNINDEXPNJgoldforeign investors
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Related tickers and likely impact
PNJ
▲ Likely positivePhu Nhuan Jewelry
Relevance: medium
| Market | Vietnam stocks |
|---|---|
| Exchange | HOSE |
| Sector | Retail |
| Industry | Specialty Retailers |
| Market cap | 9,467 bn VND |
| P/E | 3.9 |
| P/B | 0.70 |
| Close on 10/20/2026 | 19.75 |
| Change that session | +6.76% |
VNINDEX
▲ Likely positiveRelevance: low
| Market | Vietnam stocks |
|---|---|
| Close on 10/20/2026 | 1,691.97 |
| Change that session | +0.13% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
Related news
- Weekly market review: Market rebounds at week's end, foreign investors continue to sell steadily
The VN-Index rose 7.56 points to 1,705.91, reclaiming the 1,700 level after 7 straight sessions of decline, with 185 stocks gaining and 121 falling. Foreign investors net sold VND 3,007 billion over all 5 sessions, led by a net sell of VND 417.14 billion in VIC, while MBB drew net buying of VND 230.22 billion. The article also notes that the SSI-SCA fund no longer held VIC at month-end, and that Vietcap warned of significant downside risk to PNJ's 2026–2032 profit forecasts.
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PNJ shares hit the VND 19,750 ceiling price in the October 20 session while the broader market corrected, with over 16.3 million shares traded and foreign investors net buying nearly VND 70 billion. The stock is still less than half its peak above VND 40,000. Ahead of the extraordinary shareholders' meeting on October 21, PNJ plans a VND 7,071 billion loss provision for its goods exchange policy, assuming 80% of sold goods are exchanged; if fully recognised, its 2026 after-tax result could be a loss of about VND 6,270 billion, and the revenue target falls from VND 48,660 billion to VND 39,057 billion. The company also proposes a private placement of up to 550 million shares and fundraising of up to VND 8,000 billion. In July and August 2026, PNJ posted revenue up 4.5% but an after-tax loss of VND 61 billion, while gross margin fell from about 18.5% to 10%.
- Gold bar and ring prices on the morning of Oct 20: Sharp declines across the board
Domestic gold prices fell sharply on the morning of October 20 across major brands. At 8:30 a.m., SJC listed gold bars at 139–142 million VND per tael (buy–sell), down 1.1 million; by 9:40 a.m. SJC bar prices had rebounded but were still down 1 million from the previous morning. Gold ring prices also dropped at SJC, DOJI, PNJ and Bảo Tín Minh Châu, by between 600,000 and 1.1 million VND per tael. Globally, spot gold slipped 0.13% to $4,136 per ounce at 7 a.m. Vietnam time before edging up to $4,141 by 10 a.m., according to Kitco. Metals Focus's Matthew Piggott said institutional and central bank buying continues to support prices above $4,000 per ounce, while the firm forecasts an average of $5,330 per ounce in 2027.
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- Gold buying and selling from 5 million dong must be paid without cash
From October 16, customers buying or selling gold worth 5 million dong or more in a day must pay by non-cash means, down from the previous 20 million dong threshold. Decree 390/2026/NĐ-CP, signed by Deputy Prime Minister Nguyễn Văn Thắng, also removes conditional business requirements for producing, processing and trading gold jewellery and decorative art, so producers no longer need a State Bank eligibility certificate. Gold bars remain a conditional business requiring a State Bank licence. For firms processing gold for foreign partners, the State Bank may consider raw-gold import licences, while companies must build data systems on gold imports, exports, trading, use and inventory that connect to the regulator.
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