The market’s focus was on PNJ shares of Phu Nhuan Jewelry Joint Stock Company.

After falling to the floor price again in early trading, marking a fifth consecutive session at the daily downside limit, the stock briefly recovered.

The rebound, however, was short-lived. By 10:50 a.m., nearly 51 million PNJ shares had changed hands, equivalent to almost 10% of the company’s outstanding shares. The company is chaired by Cao Thi Ngoc Dung.

Despite the surge in liquidity, selling pressure remained dominant. PNJ reversed course and fell another VND850 to VND23,900 ($0.91) per share.

Notably, foreign investors sold nearly 41 million shares while buying only about 3.4 million.

The trading pattern showed that pressure to exit PNJ remained…