Stock market breaks gaining streak

Vietnam’s benchmark VN-Index dropped 0.74% to 1,101.32 points Thursday after gaining five sessions in a row.

The index closed 8.22 points lower after rising 1.23 points on Wednesday.

Trading on the Ho Chi Minh Stock Exchange (HoSE) increased by 31% to VND23.69 trillion ($1 billion).

The VN-30 basket, comprising the 30 largest capped stocks, saw 23 tickers fall.

SSI of leading brokerage SSI Securities Corporation and VIB of Vietnam International Commercial Bank both lost 3.2%.

GVR of Vietnam Rubber Group dropped 3% and MWG of electronics retail chain Mobile World closed 2.6% lower.

Six blue chips gained, led by VCB of state-owned lender Vietcombank with a 3.1% increase.

Foreign investors were net sellers to the tune of VND312.65 billion, mainly selling VNM of dairy giant Vinamilk and GEX of electrical equipment maker Gelex Group.

The HNX-Index at the Hanoi Stock Exchange, where mid and small caps list, was down 1.54% while the UPCoM-Index at the Unlisted Public Companies Market was down by 0.64%.