VCSC Daily - Banks pressured by Circular 36 concerns - VSH
Banks pressured by Circular 36 concerns. Pressure on major banks stocks led to an extension of last Friday's sell off. Losses in bank stocks led the VNI to an intraday low of 571.12 points. However, the 570 level offered some technical support. Nonetheless, the VNI closed at 573.2 point, nearly 10 points. Sentiment wise, investors were increasingly worried about new supply of banking stocks entering the marketplace.