On the Ho Chi Minh Stock Exchange (HoSE), the VN-Index lost 0.38 percent, to close Wednesday at 1,101.66 points. The market's breadth was negative with 190 stocks increasing while 274 stocks declining.
The market liquidity stayed low as domestic investors poured over VND11 trillion (US$447.7 million) into the Southern market, equivalent to a trading volume of nearly 539 million shares.
Foreign investors net sold VND557 billion on HOSE, including Vingroup (VIC) with VND91 billion, PetroVietnam Ca Mau Fertilizers JSC (DCM) with VND68 billion, and SSI Securities Incorporation (SSI) with VND55 billion. They were net sellers on the HNX with a value of VND25 billion.
The VN30-Index dropped 0.34 percent to 1,113.32 points. Of the VN30 basket, eight stocks rose while 20 slid and two stayed unchanged.
In the VN30 basket, worst performers included banking stocks, which fell and put great pressure on the overall market, including Sai Gon Thuong Tin Commercial Joint Stock Bank (STB), Sai Gon-Hanoi Bank (SHB), Asia Commercial Bank (ACB), Military Bank (MBB) and Vietinbank (CTG), VPBank (VPB), Techcombank (TCB), Tien Phong Bank (TPB) and Lien Viet Post Bank (LPB).
"Market continues to recover to retest the MA line (200) of VN-Index, area 1,113 points, which the market has lost recently. Given the cash flow situation not clearly improving and pressure from the MA(200) area, it is expected that the recovery pace will slow down in this area and supply may put pressure back on the market in the near future," said Viet Dragon Securities Co.
"Therefore, investors need to observe supply and demand developments in the MA(200) region to reassess the state of the market. Temporarily, it is still necessary to consider the market's recovery ability to restructure the portfolio in a way that minimizes risks," it said.
On the Hanoi Stock Exchange (HNX), the HNX-Index lost 0.83 percent to close Wednesday at 227.01 points.
During the trading session, nearly 72 million shares were traded on the northern bourse, worth over VND1.35 trillion.
