Banking stocks drove the market down, with Vietcombank, Vietinbank, Military Bank and VPBank slumping across the board. — Photo thoibaonganhang.vn
The benchmark VN Index slumped on Wednesday as banking and securities stocks were hit by heavy profit-taking pressure.
The VN Index on HCM Stock Exchange lost 0.23 per cent to close 1.169,07 points. It had advanced 0.04 per cent on Tuesday.
The HNX Index on Hà Nội Stock Exchange dropped 0.71 per cent to end at 132,34 points. The Index had dropped 0.29 per cent on Tuesday.
More than 142 million shares, worth VND3.7 trillion (US$164 million), were traded on the two local bourses.
Market breadth was negative with 157 gaining shares, 235 declining ones and 332 stocks ending flat.
The UPCoM Index on the Unlisted Public Company Market decreased 0.84 per cent to stand at 59.76 points. The index had increased 0.28 per cent in the previous session.
Banking stocks drove the market down, with Vietcombank, Vietinbank, Military Bank and VPBank slumping across the board.
The laggards in the securities sector were VNDirect Securities Corporation, Sai Gon Securities Incorporation and Bank for Investment and Development of Vietnam Securities Company.
Large-cap stocks underperformed, as 18 of the 30 largest stocks by market capitalisation in the VN30 Index decreased, pulling the large-cap index down 0.16 per cent to 1.148,47 points.
Stocks in the VN30 basket also experienced strong selling pressure, with many prominent stocks losing. These include dairy firm Vinamilk, PetroVietnam Gas Joint Stock Corporation, brewery Sabeco and steel maker Hoa Phat Group.
The afternoon trading session starts at 1pm. — VNS