Stock market tumbles as most blue chips fall

The index closed 28.6 points lower after losing 11.6 points on Friday.

Trading on the Ho Chi Minh Stock Exchange (HoSE) increased by 7.7% to VND16.71 trillion ($706.05 million).

The VN-30 basket, comprising the 30 largest capped stocks, saw 27 tickers dropped.

GVR of Vietnam Rubber Group fell 6.9% to a seven-week low.

SSI of leading brokerage SSI Securities Corporation droppbed 5.9% to the lowest since July 7.

Other losers included POW of electricity producer Petrovietnam Power Corporation, BVH of insurance company Bao Viet Holdings, and TPB of private TPBank.

Only two blue chips bucked the trend: FPT of IT giant FPT Corporation rose 0.7% and VIC of biggest private conglomerate Vingroup gained 0.6%.

Foreign investors were net buyers after four selling sessions to the tune of VND149.43 billion.

The HNX-Index at the Hanoi Stock Exchange, where mid and small caps list, was down 3.16% while the UPCoM-Index at the Unlisted Public Companies Market was down by 1.25%.