Main bourse stuck for over an hour

By Dat Nguyen June 6, 2021 | 11:53 pm PT

An investor looks at stock prices on a laptop at a brokerage in Ho Chi Minh City. Photo by VnExpress/Quynh Tran.

Vietnam’s main bourse HoSE was stuck for over an hour Monday morning before plunging 25 points as investors take profits.

The index rose by nearly 2 points at the start of the session and stayed there from 9.45 a.m. until around 11 a.m. despite most blue chips being in the red.

It then started to plunge over 25 points 15 minutes before the mid-day break, the strongest correction since the end of April.

As of publishing, VN-Index has fallen 1.18 percent from its previous peak on Friday to 1,357.84 points.

The chart of VN-Index on June 7, 2021. Photo courtesy of VNDirect.

Most brokerages have anticipated the drop this week, saying it is necessary prior to the index climbing back up as the short-term trend remains upward.

Banks were the top tickers contributing to the VN-Index drop with BID of state-owned lender BIDV, VCB of state-owned lender Vietcombank, TCB of the largest private lender Techcombank and CTG of state-owned lender VietinBank together pulling it down by 9.9 points.