Vietnamese shares dropped on both local exchanges on Tuesday morning, driven by large-cap stocks on poor investor confidence. — Photo tinnhanhchungkhoan.vn

Shares closed down on both local exchanges on Tuesday morning, pulled by large-cap stocks on poor investor sentiment.

The benchmark VN Index on the HCM Stock Exchange inched down 0.14 per cent to close to 801.10 points.

It rose as much as 0.27 per cent early in the session, before dropping down. The benchmark index had fallen 0.3 per cent in the previous two sessions.

The HNX Index on the Ha Noi Stock Exchange declined by 0.43 per cent to end at 107.05 points. It lost 0.1 per cent on Monday.

More than 107.6 million shares were traded on the two local exchanges, worth VND1.87 trillion (US$83.3 million).

Poor investor confidence was to blame for the fall of the stock market in the morning session, making the group of large-cap stocks fall.

The VN30 Index saw 20 of the 30 largest stocks by market capitalisation and trading liquidity decline.

The worst decliners in the VN30 Index included Thanh Thanh Cong Tay Ninh Sugar Co (SBT), PetroVietnam Drilling and Well Services (PVD) and Kido Group (KDC).

On the opposite side, property developer Vingroup (VIC) and the Bank for Investment and Development of Viet Nam (BID) were among a few stocks that remained in the positive territory.

The afternoon trade session starts at 1pm. — VNS