Tech stocks hit the US market later Monday, thus putting pressure on Vietnamese shares in early trading on Tuesday. — Photo tinnhanhchungkhoan.vn

Vietnamese shares fell sharply on Tuesday morning, hit by lower confidence following a turndown across global markets.

The benchmark VN-Index on the Ho Chi Minh Stock Exchange dropped 1.21 per cent to end at 906.99 points.

The southern market index gained 0.42 per cent on Monday.

The HNX Index on the Ha Noi Stock Exchange fell 0.85 per cent to close at 102.49 points.

The northern market index advanced 0.35 per cent on Monday.

More than 101.6 million shares were traded on the two local exchanges, worth VND1.83 trillion (US$81.5 million).

Tech stocks declined and hit the US market later on Monday, thus affecting Vietnamese markets in a negative way.

Declining stocks outnumbered gainers by 274 to 130, while 77 other stocks ended flat.

The large-cap VN30 Index fell 1.42 per cent to 875.58 points with 27 of the 30 largest stocks by market capitalisation losing ground.

Among the decliners were food and beverage firm Masan (MSN), PetroVietnam Gas (GAS), Coteccons Construction Corp (CTD) and DHG Pharmaceutical JSC (DHG).

On a sector basis, 16 of the 20 industry indices ended in negative territory, data on vietstock.vn showed.

The worst-performing industries included real estate, banking, securities, energy and consumer goods.

The afternoon trading session starts at 1pm. – VNS