Stock market slump, the largest automobile distribution company’s shares surge

Vietnam’s stock market saw a significant drop, with the VN-Index falling 64 points to 1,493.41, losing over 4.11% and 276 trillion VND in market capitalization. Amid this, HUT shares of Tasco surged, hitting 17,000 VND, recovering 42% from May’s low. HUT reported Q2 revenue of 92 billion VND, up 135%, but post-tax profit fell 7% to 5.3 billion VND due to lack of recorded profits from divestments. For 2025, HUT aims for 39,878 billion VND in revenue and 571 billion VND in pre-tax profit. The company plans a stock issuance to raise 1,785 billion VND to boost its subsidiaries. HUT is now Vietnam’s largest automobile distributor with 126 showrooms nationwide.