HANOI: Vietnam's benchmark VN Index closed 0.31 percent lower on Monday, with most blue-chips losing ground in a volatile market amid lack of support from foreign investors that could trigger more selling in the next session.
More than half of the biggest stocks by market value fell, led by dairy products maker Vinamilk that dropped 0.93 percent and PetroVietNam Gas, Vietnam's top firm by market value, which declined 0.63 percent.
Banking shares, which helped the index past a three-month high last week, fell or stayed unchanged. Hanoi-based VietinBank, the country's biggest partly private lender by assets, fell 1.55 percent.
"The index could fall to its support level of 580-585 points on weakening demand as foreign investors reduced their strong purchases, while the banking sector is also facing corrections," said analyst Do Quang Hop of Saigon-Hanoi Securities.
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