Banks were among the biggest losers on Monday morning despite their impressive earnings reports. - Photo tinnhanhchungkhoan.vn

The new week’s trading began on a negative note on Monday morning as large-cap stocks slumped amid fears of further decline.

The benchmark VN Index on the HCM Stock Exchange slipped 0.6 per cent to 680.7 points. The gauge has dropped in the last two weekend sessions.

The market condition was negative with the number of losing stocks overwhelming the gaining ones by 151-69; the remaining 103 closed flat.

Large-cap stocks pushed the market down, with 22 of the top 30 largest shares by market capitalisation and liquidity losing value; only eight advanced.

Banks were among the biggest losers despite their impressive earnings reports. The top five largest listed lenders on the HCM City bourse - Vietcombank (VCB), Vietinbank (CTG), BIDV (BID), Military Bank (MBB) and Sacombank (STB) - were all on the defensive side.

On the Ha Noi Stock Exchange, the HNX Index also went down 0.3 per cent to end at 83.1 points.

A total of 56.3 million shares worth VND1.24 trillion (US$55 million) were traded in the two markets.

The afternoon session starts at 1pm. – VNS