On the Ho Chi Minh Stock Exchange (HoSE), the benchmark VN-Index dropped 2.38 per cent, to 1,155.23 points. Photo cafef.vn

Shares extended losses on Wednesday morning due to poor investor sentiment.

On the Ho Chi Minh Stock Exchange (HoSE), the benchmark VN-Index dropped 2.38 per cent, to 1,155.23 points.

The market's breadth turned negative as 412 stocks declined while 69 stocks increased. Market liquidity was still high with a trading value of nearly VNĐ14 trillion, equivalent to nearly 609 million shares traded on the southern market.

Investors remained cautious as system overloading appeared from the beginning of trading. The fall in large-cap stocks also put great pressure on the market.

The VN30-Index, tracking the 30 biggest stocks in market value, decreased 2.35 per cent to 1,159.08 points. Twenty-five of the VN30 basket slid, while only two stocks increased.

Big stocks across all sectors faced selling pressure, including Vietcombank (VCB), Vinhomes JSC (VHM), PetroVietnam Gas JSC (GAS) Vietnam Rubber Group - JSC (GVR) and Masan Group Corporation (MSN).

On the Ha Noi Stock Exchange (HNX), the HNX-Index also dropped 2.21 per cent to 266.32 points. VNS