Stocks hit 7-week low

It closed 0.9 points lower after plunging 60 points Monday, its biggess loss in a session in two years.

Trading on the Ho Chi Minh Stock Exchange (HoSE), on which the index is based, dropped 9.6% to VND30.33 trillion ($1.20 billion).

The VN30 basket, comprising the 30 largest capped stocks, saw 13 tickers fell.

POW of electricity producer Petrovietnam Power Corporation dropped 2.2%, followed by BCM of Becamex Investment and Industrial Development with a 2.1% decline.

VNM of dairy giant Vinamilk dropped 1.4% and VIC of private conglomerate Vingroup closed 1.3% lower.

Fourteen blue chips rose. TCB of the largest private lender Techcombank led with a 2.5% rise, followed by MBB of lender MB, up 2.1% and CTG of state-owned lender VietinBank, up 1.8%.

Foreign investors were net buyers to the tune of VND71 billion, mainly buying SSI of leading brokerage SSI Securities Corporation and MWG of electronics retail chain Mobile World.