Shares declined towards the end of the Wednesday morning trading session as many heavyweight stocks lost value.

On the Ho Chi Minh Stock Exchange, the VN-Index inched down 0.23 per cent to 976 points by the end of the morning session.

Meanwhile, the HNX-Index on the Ha Noi Stock Exchange was down 0.49 per cent at 109.25 points.

The market breadth was negative as the number of losing stocks overwhelmed gaining ones by 253-154. Another 354 closed unchanged.

Thirteen of total 20 stock groups tracked by vietstock.vn decline and seven gained, including real estate, retail, food-beverage, rubber, household utilities, seafood processing and machines and equipment.

Bank stocks, which drove the momentum in the previous rallies, continued to slump. Seven of 13 listed banks decreased while only three advanced.

VPBank (VPB) slipped 1.5 per cent. Vietcombank (VCB), Sacombank (STB) and Techcombank (TCB) lost about 0.8 per cent.

Food firms maintained the uptrend. Gainers included brewer Sabeco (SAB), Vinamilk (VNM) and sugar and confection manufacturing firm Thanh Thanh Cong – Bien Hoa JSC (SBT).

A total of 126 million shares worth VND2.35 trillion (US$102.2 million) were traded on the two markets.

The afternoon session starts at 1pm. – VNS