Vietnamese stocks witnessed a decline on Wednesday as banking shares extended their downward trend and securities stocks experienced a sharp tumble. This resulted in increased pressure on the indices, driven by a strong selling force prevailing in the market.

The Vietnamese stock market experience a bumpy road in 2023, following the general developments of the global market. However, it still recorded stable operations and good liquidity, according to a report from the State Securities Commission (SSC).

Shares struggled around the reference price range on Tuesday with cautious cash flow and short-term profit-taking pressuring the overall uptrend of the market.

Accelerated disbursement of public investment capital in late 2023 and its sustained momentum in 2024 will fuel strong growth for infrastructure construction companies.

Despite market turbulence, the Vietnamese stock market experienced a gain on Monday.

The competition to increase capital among securities companies is showing signs of excitement once again in the second half of 2023, amid the context of continuous growth in outstanding margin loans over the past few quarters.

The stock market saw choppy trading throughout the week but still posted a weekly gain with the VN-Index retesting the threshold of 1,100 points.

Shares rebounded slightly on the Hồ Chí Minh Stock Exchange but continued trading under the reference line on Hà Nội’s bourse as investors remained reluctant to take risks.