Vietnamese shares tumbled on Friday morning on both local indices, following the slump of the global market.

The benchmark VN-Index on the HCM Stock Exchange plunged 0.77 per cent to close at 936.70 points, reversing from its increase of 5.7 per cent during the last six sessions.

The HNX Index on the Ha Noi Stock Exchange dropped 0.60 per cent to end at 104.94 points. The northern market index inched down 1.26 per cent on Thursday.

The stock market turned chaotic when investors triggered large-scale sell-offs in all sectors with some 113.6 million shares traded on both local bourses, worth VNĐ1.9 trillion (US$82 million).

Overall market condition was negative with 153 gainers and 227 losers while another 361 closed unchanged.

Tracking the southern bourse’s largest stocks by capitalisation and liquidity, the VN30-Index added 0.75 per cent, to end at 933.99 points.

Among all 20 industries, the worst declining stocks were found in financial-banking, securities and retail sectors.

Large-cap stocks such as real estate developers Vinhomes and Vingroup, dairy firm Vinamilk and Mobile World Group dropped due to profit-taking pressure, pushing the market indexes below the reference level.

In contrast, budget carrier Vietjet, Tien Phong Bank, brewery Sabeco and Bao Viet Holdings were the rare blue-chips that maintained the upward trend which helped cushion the market’s fall.

The afternoon trading session starts at 1pm. — VNS