VCSC Daily - Markets tumble on bank negativity
Markets tumble on negative sentiment in the banking sector. The VNI shed almost 13 points to close at 375.3 (-3.3%) while the HNI loss 3% to close at 51.1. Banking stocks shaved 3.6% as a group, ahead of an eventual after-trading hours announcement of the resignation of Sacombank’s chairman and founder (details below). Shares of Sacombank (STB) loss 3%. However it was blue-chips, including Vietcombank (VCB), Vinamilk (VNM) and Masan (MSN) that weighed the index most.