Profits from securities investment and trading activities of commercial banks increased sharply in the last quarter of 2023 as interest rates fell significantly.

Shares inched lower on Wednesday as pillar stocks faced a strong sell-off, while foreign investors continued to net buy on the market.

Steel stock prices have skyrocketed in 2023 and are projected to continue their strong upward trend in 2024, driven by robust public investments and a flourishing real estate sector that was boosted by the approved Land Law amendment on January 18.

The Vietnamese stock market inched higher on Tuesday but gains were capped by losses in the big three banks.

The selling pressure weighed on the market in the first trading day of the week, with the benchmark VN-Index being stable while foreign investors net sold on two main exchanges.

The benchmark VN-Index on the Hồ Chí Minh Stock Exchange rose 0.45 per cent to close at 1,175.67 points.